City Of Industry, California Lender Lends Money to New Multifamily Housing Construction Company
A City Of Industry, California small business loan can be yours. Learn how a company got a $1,159,000 business loan from this California bank.
This loan to a local firm is a good example of an SBA loan. American Continental Bank made the loan and the SBA guaranteed a portion of the loan. Many other California entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: NEW MULTIFAMILY HOUSING CONSTRUCTION
GARDENA, CA 90249
SBA Loan Lender
AMERICAN CONTINENTAL BANK
17700 CASTLETON ST, STE 100
CITY OF INDUSTRY, CA 91748
This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
236116 - New Multifamily Housing Construction
Loan Approval Date
12/13/2006
Loan Approval Gross Amount
$1,159,000
Loan Approval from the SBA
Of the total $1,159,000 loan amount, the SBA guaranteed $869,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 9 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 6 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.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
Financing Your Business
SBA 7A Lenders in City Of Industry, California
Getting a Business Loan in California