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April 29, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Los Angeles, Business Loans > Hanmi Bank Los Angeles Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Hanmi Bank Business Loans
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Getting an SBA Loan for Automotive Body, Paint, and Interior Repair and MaintenanceWith these commercial loans for automotive body, paint, and interior repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive body, paint, and interior repair and maintenance loan for $450,000 was given to a Virginia entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Woodbridge, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Hanmi Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender HANMI BANK This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 5/12/2006 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. 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 13 employees. The loan application indicated that the loan would help retain 13 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hanmi Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks in Los Angeles, California
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