Loan Census Banking News and Information
July 20, 2024  
 
 
  Business Loan Information  
 

Banks in Los Angeles, California That Make SBA Loans

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Los Angeles, California Bank to Get an SBA Loan

Thinking about meeting with a Los Angeles, California bank about an SBA loan? Here's one California business loan, issued by a Los Angeles bank, that was approved by the SBA.

Applying for an SBA loan with Pacific City Bank worked out well for our friends at one local firm in Taft, California. The business was able to get an SBA loan for $222,200. Great job!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Taft, CA 93268

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/25/2006

Loan Approval Gross Amount

$222,200

Loan Approval from the SBA

Of the total $222,200 loan amount, the SBA guaranteed $166,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pacific City Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Determining Proper Capital Structure for a Business

Best Los Angeles, California Banks for Small Business

Find an SBA Lender in California