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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Construction Material Merchant Wholesalers Loan | ||||
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Getting a Small Business Loan in Cerritos (dairy Valley), California
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Growing Company Gets a California SBA LoanCaliforniaBank loans are available to California firms through the SBA. In this case, a California bank provides the loan. This company, based in Cerritos (dairy Valley), California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Center Bank. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION MATERIAL MERCHANT WHOLESALERS SBA Loan Lender CENTER BANK This lender provides SBA small business loans 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 423390 - Construction Material Merchant Wholesalers Loan Approval Date 5/22/2006 Loan Approval Gross Amount $910,000 Loan Approval from the SBA Of the total $910,000 loan amount, the SBA guaranteed $819,000. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Center Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Find an SBA Lender in Los Angeles, California
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