Anaheim, California Business Gets SBA-Guaranteed Funding from Cathay Bank

Cathay Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Anaheim, California was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Cathay Bank, operating out of Los Angeles, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ANAHEIM, CA 92688

SBA Loan Lender

CATHAY BANK
777 N BROADWAY
LOS ANGELES, CA 90012

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/27/2003

Loan Approval Gross Amount

$580,500

Loan Approval from the SBA

Of the total $580,500 loan amount, the SBA guaranteed $435,375.

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 8 employees. The loan application indicated that the loan would help retain 32 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Anaheim CA, you ought to talk with a local Anaheim SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Anaheim businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cathay Bank and they will explain how you can get an SBA loan for your company.

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:

Bank Credit Lines

SBA Participating Banks in Los Angeles, California

SBA Participating Banks in California