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December 22, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Men's And Boys' Clothing And Furnishings Merchant Wholesalers Loan | ||||
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California SBA Banks
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Los Angeles, California Bank Gives SBA Loan to Men's And Boys' Clothing And Furnishings Merchant Wholesalers CompanyThinking about meeting with a Los Angeles, California bank about a business loan? Here's one North Carolina business loan, issued by a Los Angeles bank, that was approved by the SBA. Applying for an SBA loan with Wilshire State Bank worked out well for our friends at one local company in Charlotte, North Carolina. They received an SBA loan for $400,000. Nice! SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHINGS MERCHANT WHOLESALERS 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 424320 - Men's and Boys' Clothing and Furnishings Merchant Wholesalers Loan Approval Date 11/23/2007 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 in Los Angeles, California
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