Get an SBA Loan for Direct Selling Establishments

Looking for small business loans for direct selling establishments? An SBA loan may be just what you've been looking for. This $365,000 direct selling establishments loan was issued by a California bank.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Commonwealth Business Bank, out of Los Angeles, California. The loan was granted and they received $365,000 to help grow their Bakersfield, California business.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
BAKERSFIELD, CA 93313

SBA Loan Lender

COMMONWEALTH BUSINESS BANK
5055 WILSHIRE BLVD, STE 100
LOS ANGELES, CA 90036

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

8/8/2005

Loan Approval Gross Amount

$365,000

Loan Approval from the SBA

Of the total $365,000 loan amount, the SBA guaranteed $273,750.

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 4 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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 Commonwealth Business 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:

Banking Deregulation's Effects on Entrepreneurship

Best Los Angeles, California Banks for Small Business

SBA California Banks