Firm Gets a California Business Loan

Want a California small business loan? This California entrepreneur got a small business loan, provided by a California bank that works with the SBA to help small business owners.

This business, based in Glendale, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Gateway Business Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS
GLENDALE, CA 91204

SBA Loan Lender

GATEWAY BUSINESS BANK
18000 STUDEBAKER RD, STE 550
CERRITOS, CA 90703

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

423990 - Durable Goods Merchant Wholesalers

Loan Approval Date

10/21/2004

Loan Approval Gross Amount

$485,000

Loan Approval from the SBA

Of the total $485,000 loan amount, the SBA guaranteed $363,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Gateway Business Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Gateway Business 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.

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