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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Buena Park, Business Loans > Los Angeles National Bank Buena Park Business Loans > Business Services Loan | ||||
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California Bank SBA Loans
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Los Angeles National Bank SBA Loan to Business Services CompanyLooking to get a California small business loan? Here's one California business loan that was approved by the SBA. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Los Angeles National Bank, out of Buena Park, California. The loan was granted and they received $50,000 to help grow their Long Beach, California business. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICES SBA Loan Lender LOS ANGELES NATIONAL BANK This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services Loan Approval Date 9/7/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 2 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you have been wondering how do i get money to start a business in Long Beach CA, you ought to talk with a local Long Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Long Beach businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Microlending as a Small Business Funding Source Best Banks for Small Business in Buena Park, California Getting an SBA Loan in California
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