 |
 |
November 21, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Texas Business Loan Sources > Los Angeles, Business Loans > Pacific City Bank Los Angeles Business Loans > Full-Service Restaurants Loan | ||||
 |
||||
Who Can Get a Business Loan in Fort Worth, Texas?
|
||||
 |
Full-Service Restaurants Small Business LoansLooking for small business loans for full-service restaurants? Talk to a banker who works with the SBA. This $245,000 full-service restaurants loan was issued by a California bank. This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Pacific City Bank, out of Los Angeles, California. The loan was granted and they received $245,000 to help grow their Fort Worth, Texas business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender PACIFIC CITY 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 722110 - Full-Service Restaurants Loan Approval Date 2/16/2007 Loan Approval Gross Amount $245,000 Loan Approval from the SBA Of the total $245,000 loan amount, the SBA guaranteed $183,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower indicated that the loan would help retain 17 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pacific City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Microlending as a Small Business Funding Source Good Banks for Small Business in Los Angeles, California
|
|
||
|
||||
|
|
||||