SBA Loan from Hanmi Bank Helps Supermarkets And Grocery Stores Company

An SBA loan from Hanmi 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 $781,000 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Hanmi Bank, out of Los Angeles, California. The loan was granted and they received $781,000 to help grow their Compton, California business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
COMPTON, CA 90222

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, PH-A
LOS ANGELES, CA 90010

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

5/29/2002

Loan Approval Gross Amount

$781,000

Loan Approval from the SBA

Of the total $781,000 loan amount, the SBA guaranteed $585,750.

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 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Hanmi Bank and they will explain how you can get an SBA loan for your company.

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:

Business Incubators

Best Los Angeles, California Banks for Small Business

California SBA Bank Lenders