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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > National Bank Of California Los Angeles Business Loans > Car Washes Loan | ||||
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National Bank Of California
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National Bank Of California SBA Loan to Car Washes CompanyAn SBA loan from National Bank Of California typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Glendale, California business owner got a $1,275,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Glendale, California was able to borrow $1,275,000 from National Bank Of California. The SBA made the loan possible by guaranteeing $956,250 of this California small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender NATIONAL BANK OF CALIFORNIA As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 11/18/2003 Loan Approval Gross Amount $1,275,000 Loan Approval from the SBA Of the total $1,275,000 loan amount, the SBA guaranteed $956,250. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 21 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Decide How Much to Raise Good Banks for Small Business in Los Angeles, California Browse All Business Loan Sources for California
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