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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Commercial Bakeries Loan | ||||
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Get a Business Loan from Wilshire State Bank
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SBA Loan from Wilshire State Bank Helps Commercial Bakeries CompanyAn SBA loan from Wilshire State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Buena Park, California business owner got a $420,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Buena Park, California was able to borrow $420,000 from Wilshire State Bank. The SBA made the loan possible by guaranteeing $315,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL BAKERIES SBA Loan Lender WILSHIRE STATE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311812 - Commercial Bakeries Loan Approval Date 2/25/2005 Loan Approval Gross Amount $420,000 Loan Approval from the SBA Of the total $420,000 loan amount, the SBA guaranteed $315,000. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing 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. 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 Wilshire State 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: Best Banks for Small Business in Los Angeles, California Find an SBA Lender in California
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