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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Gasoline Stations Loan | ||||
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Wilshire State Bank
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Business Loan from Wilshire State Bank Given to Gasoline Stations CompanyAn SBA loan from Wilshire State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fort Worth, Texas business owner got a $490,000 loan. This business knew how to go about getting a business bank loan. Based in Fort Worth, Texas, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Wilshire State Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS SBA Loan Lender WILSHIRE STATE BANK 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 447190 - Gasoline Stations Loan Approval Date 6/10/2003 Loan Approval Gross Amount $490,000 Loan Approval from the SBA Of the total $490,000 loan amount, the SBA guaranteed $367,500. 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 did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wilshire State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wilshire State 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 Bank Loans in Los Angeles, California Where to Get an SBA Loan California
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