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April 20, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Downey, Business Loans > Southland Credit Union Downey Business Loans > Home Health Care Services Loan | ||||
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Who Can Get a Business Loan in West Covina, California?
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Home Health Care Services Business LoansLooking for business loans for home health care services? An SBA loan may be just what you've been looking for. This $50,000 home health care services loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Covina, California was able to borrow $50,000 from Southland Credit Union. The SBA made the loan possible by guaranteeing $25,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: HOME HEALTH CARE SERVICES SBA Loan Lender SOUTHLAND CREDIT UNION This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 621610 - Home Health Care Services Loan Approval Date 4/20/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Advice on Getting a Small Business Loan SBA Approved Banks in Downey, California Find an SBA Lender in California
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