Business Loan from Nara Bank Given to General Warehousing And Storage Company

An SBA loan from Nara Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Compton, California business owner got a $1,300,000 loan.

Getting a small business loan in Compton, California was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Nara Bank, operating out of Los Angeles, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL WAREHOUSING AND STORAGE
COMPTON, CA 90222

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to provide expeditious 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.

NAICS Code

493110 - General Warehousing and Storage

Loan Approval Date

9/29/2001

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

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 65 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Compton CA, you ought to talk with a local Compton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Compton businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Nara Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Realistic Debt Financing Options

SBA Approved Banks in Los Angeles, California

Find an SBA Lender in California