SBA Loan from East West Bank Helps Industrial And Personal Service Paper Company
East West Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.
This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with East West Bank, out of Tarzana, California. The loan was granted and they received $60,000 to help grow their Compton, California business.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL AND PERSONAL SERVICE PAPER
COMPTON, CA 90222
SBA Loan Lender
EAST WEST BANK
18321 VENTURA BLVD
TARZANA, CA 91356
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5113 - Industrial and Personal Service Paper
NAICS Code
422130 - Industrial and Personal Service Paper Wholesalers
Loan Approval Date
3/14/2002
Loan Approval Gross Amount
$60,000
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $51,000.
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. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.
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.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
Accountant's Role in Securing Financing
Find an SBA Lender in Tarzana, California
Where to Get an SBA Loan California