California Small Business Loan Issued to Electronic Parts And Equipment Merchant Wholesalers Company

Bank loans in California are are few and far betweeen these days. We take a look at one California bank loan, provided by a California bank, that was approved by the SBA.

You can learn something about getting a small business loan in La Puente, California by studying this loan to a local company, made back in 2003. Banks like Cathay Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT MERCHANT WHOLESALERS
LA PUENTE, CA 91746

SBA Loan Lender

CATHAY BANK
777 N BROADWAY
LOS ANGELES, CA 90012

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

423690 - Electronic Parts and Equipment Merchant Wholesalers

Loan Approval Date

6/3/2003

Loan Approval Gross Amount

$549,000

Loan Approval from the SBA

Of the total $549,000 loan amount, the SBA guaranteed $411,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Credit Cards

Best Los Angeles, California Banks for Small Business

Getting an SBA Loan in California