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November 22, 2024  
 
 
  Business Loan Information  
 

How Do We Get a Business Loan in Chino Hills, California?

 

 
Loan Census SBA Loan Info

Bank Loans for Beer, Wine, and Liquor Stores

With these bank loans for beer, wine, and liquor stores, the SBA guarantees the lender that the loan will be repaid. This beer, wine, and liquor stores loan for $600,000 was given to a California entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Chino Hills, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Nara Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
Chino Hills, CA 91709

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

10/19/2006

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Nara Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Nara Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Credit Cards

SBA Participating Banks in Los Angeles, California

California SBA 7A Banks