Borrowing Money for Electronic Shopping and Mail-Order Houses

With these loans for electronic shopping and mail-order houses, the SBA guarantees the lender that the loan will be repaid. This electronic shopping and mail-order houses loan for $80,000 was given to a California entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Glendale, California was able to borrow $80,000 from Far East National Bank. The SBA made the loan possible by guaranteeing $64,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CATALOG AND MAIL-ORDER HOUSES
GLENDALE, CA 91201

SBA Loan Lender

FAR EAST NATIONAL BANK
977 N BROADWAY
LOS ANGELES, CA 90012

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5961 - Catalog and Mail-Order Houses

NAICS Code

454110 - Electronic Shopping and Mail-Order Houses

Loan Approval Date

9/28/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

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 4 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Far East National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Banks in Los Angeles, California

California SBA Banks