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November 15, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Los Angeles, Business Loans > Cathay Bank Los Angeles Business Loans > Industrial And Personal Service Paper Merchant Wholesalers Loan | ||||
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Cathay Bank
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SBA Loan from Cathay Bank Helps Industrial And Personal Service Paper Merchant Wholesalers CompanyAn SBA loan from Cathay Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Issaquah, Washington business owner got a $500,000 loan. Getting a small business loan in Issaquah, Washington was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Cathay Bank, operating out of Los Angeles, California. Here are the details on this Washington small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL AND PERSONAL SERVICE PAPER MERCHANT WHOLESALERS SBA Loan Lender CATHAY BANK This SBA bank 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. NAICS Code 424130 - Industrial and Personal Service Paper Merchant Wholesalers Loan Approval Date 2/4/2004 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $450,000. 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 2 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cathay Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cathay 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. Related Links: The Friends and Family Network Best Banks for Small Business in Los Angeles, California Getting an SBA Loan in California
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