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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Security Guards And Patrol Services Loan | ||||
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Business Loan from Nara Bank
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Arroyo Grande, California Business Gets SBA-Guaranteed Funding from Nara BankNara Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Nara Bank, out of Los Angeles, California. The loan was granted and they received $285,000 to help grow their Arroyo Grande, California business. SBA Loan Borrower COMPANY TYPE: SECURITY GUARDS AND PATROL SERVICES SBA Loan Lender NARA 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 561612 - Security Guards and Patrol Services Loan Approval Date 3/26/2007 Loan Approval Gross Amount $285,000 Loan Approval from the SBA Of the total $285,000 loan amount, the SBA guaranteed $213,750. 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 50 employees. The SBA loan documents indicated that the loan would help retain 50 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Best Los Angeles, California Banks for Small Business Browse All Business Loan Sources for California
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