Growing Company Gets a California Small Business Loan
Looking to get a California bank loan? This California entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners.
This business, based in Corona, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Hanmi Bank. We've got the inside scoop on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
CORONA, CA 92882
SBA Loan Lender
HANMI BANK
3660 WILSHIRE BLVD, STE 103
LOS ANGELES, CA 90010
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
722110 - Full-Service Restaurants
Loan Approval Date
4/11/2002
Loan Approval Gross Amount
$648,000
Loan Approval from the SBA
Of the total $648,000 loan amount, the SBA guaranteed $486,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 20 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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.
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