Business Loan from Community Bank Given to Gift, Novelty, And Souvenir Shops Company
Community Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.
Getting a small business loan in Chino, California was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Community Bank, operating out of Pasadena, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
CHINO, CA 91710
SBA Loan Lender
COMMUNITY BANK
790 E COLORADO BLVD
PASADENA, CA 91101
At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to provide fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5947 - Gift, Novelty, and Souvenir Shops
NAICS Code
453220 - Gift, Novelty, and Souvenir Stores
Loan Approval Date
4/6/2000
Loan Approval Gross Amount
$46,500
Loan Approval from the SBA
Of the total $46,500 loan amount, the SBA guaranteed $37,200.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
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 Community 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:
Obtaining Funding - Getting Venture Capital
Where to Get an SBA Loan in Pasadena, California
California SBA Bank Lenders