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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Supermarkets And Grocery Stores Loan | ||||
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California Bank SBA Loans
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Brooklyn, New York Business Gets SBA-Guaranteed Funding from Nara BankAn SBA loan from Nara Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brooklyn, New York business owner got a $1,050,000 loan. This small firm knew how to go about getting a business bank loan. Based in Brooklyn, New York, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Nara Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender NARA BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 12/30/2005 Loan Approval Gross Amount $1,050,000 Loan Approval from the SBA Of the total $1,050,000 loan amount, the SBA guaranteed $787,500. 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 11 employees. The SBA loan documents indicated that the loan would help retain 11 existing jobs. Start the Process for Getting an SBA Loan Today! 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: Small Business Banks in Los Angeles, California
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