Hawthorne, California Entrepreneur Gets a Bank Loan
Business loans in California are hard to find these days. We take a look at one California business loan, provided by a California bank, that was approved by the SBA.
This business, based in Hawthorne, 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 South Cnty Bank. We've got the inside scoop on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
Hawthorne, CA 90250
SBA Loan Lender
SOUTH CNTY BANK
22342 AVENIDA EMPRESA, STE A1
RANCHO SANTA MARGARIT, CA 92688
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
423490 - Professional Equipment and Supplies Merchant Wholesalers
Loan Approval Date
5/1/2006
Loan Approval Gross Amount
$750,000
Loan Approval from the SBA
Of the total $750,000 loan amount, the SBA guaranteed $562,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
We can help you find the best banks for small businesses in Hawthorne or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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