Company Gets a California Business Loan

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

Getting a small business loan in Indio, California was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from East West Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS
INDIO, CA 92201

SBA Loan Lender

EAST WEST BANK
135 N LOS ROBLES AVE, 7TH FL
PASADENA, CA 91101

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers

Loan Approval Date

5/22/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like East West Bank and they will explain how you can get an SBA loan for your company.

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:

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SBA Participating Banks in Pasadena, California

Getting a Business Loan in California