Commerce, California Entrepreneur Gets an SBA Loan

CaliforniaSmall business loans are available to California small business owners through the SBA. In this case, a California bank provides the loan.

By giving the right information to First Private Bank & Trust, this Commerce, California business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS
COMMERCE, CA 90040

SBA Loan Lender

FIRST PRIVATE BANK & TRUST
16000 VENTURA BLVD
ENCINO, CA 91436

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

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

12/5/2002

Loan Approval Gross Amount

$173,200

Loan Approval from the SBA

Of the total $173,200 loan amount, the SBA guaranteed $129,900.

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 5 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Private Bank & Trust 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:

Small Business Loan

Banks in Encino, California

Where to Get an SBA Loan California