General Merchandise Stores Business Loans
Looking for business loans for general merchandise stores? Try the SBA. This $700,000 general merchandise stores loan was issued by a California bank.
This small business knew how to go about getting a business bank loan. Based in Altadena, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Saehan Bank, based in Los Angeles, California.
SBA Loan Borrower
COMPANY TYPE: GENERAL MERCHANDISE STORES
Altadena, CA 91001
SBA Loan Lender
SAEHAN BANK
3580 WILSHIRE BLVD, STE 1500
LOS ANGELES, CA 90010
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
452990 - General Merchandise Stores
Loan Approval Date
10/2/2006
Loan Approval Gross Amount
$700,000
Loan Approval from the SBA
Of the total $700,000 loan amount, the SBA guaranteed $525,000.
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 no employees. The SBA loan documents indicated that the borrowed money would help create 7 new jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
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 Saehan 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:
Small Business Credit Cards
Small Business Banks in Los Angeles, California
California SBA 7A Banks