SBA Loan from Southland Credit Union Helps Full-Service Restaurants Company

An SBA loan from Southland Credit Union typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lakewood, California business owner got a $50,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Lakewood, California, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Southland Credit Union, based in Downey, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LAKEWOOD, CA 90712

SBA Loan Lender

SOUTHLAND CREDIT UNION
8545 FLORENCE AVE
DOWNEY, CA 90240

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

722110 - Full-Service Restaurants

Loan Approval Date

11/29/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Financing Your Business

Small Bank Loans in Downey, California

SBA Participating Banks in California