Nondurable Goods Wholesalers Small Business Loans

Looking for small business loans for nondurable goods wholesalers? Talk to a banker who works with the SBA. This $288,000 nondurable goods wholesalers loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vernon, California was able to borrow $288,000 from Cathay Bank. The SBA made the loan possible by guaranteeing $216,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS WHOLESALERS
VERNON, CA 90058

SBA Loan Lender

CATHAY BANK
777 N BROADWAY
LOS ANGELES, CA 90012

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422990 - Nondurable Goods Wholesalers

Loan Approval Date

12/3/2001

Loan Approval Gross Amount

$288,000

Loan Approval from the SBA

Of the total $288,000 loan amount, the SBA guaranteed $216,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cathay 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:

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