Small Business Loans for Payroll Services

Looking for small business loans for payroll services? Try the SBA. This $150,000 payroll services loan was issued by a California bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with East West Bank, out of El Monte, California. The loan was granted and they received $150,000 to help grow their Anaheim, California business.

SBA Loan Borrower

COMPANY TYPE: PAYROLL SERVICES
ANAHEIM, CA 92806

SBA Loan Lender

EAST WEST BANK
3920 N PECK RD
EL MONTE, CA 91732

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541214 - Payroll Services

Loan Approval Date

8/10/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 9 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 East West 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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in El Monte, California

California SBA 7A Lenders