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November 23, 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 > Gasoline Stations With Convenience Stores Loan | ||||
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Los Angeles SBA Lenders
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Entrepreneur Works With Los Angeles, California Bank to Get an SBA LoanThinking about meeting with a Los Angeles, California bank about a business loan? Here's one California business loan, issued by a Los Angeles bank, that was approved by the SBA. Applying for an SBA loan with National Bank Of California worked out well for our friends at one local business in Glendale, California. They got an SBA loan for $1,800,000. Sweet! SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender NATIONAL BANK OF CALIFORNIA 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 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 4/6/2005 Loan Approval Gross Amount $1,800,000 Loan Approval from the SBA Of the total $1,800,000 loan amount, the SBA guaranteed $1,350,000. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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: Determining Proper Capital Structure for a Business SBA 7A Banks in Los Angeles, California SBA Participating Banks in California
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