Raising Money for Amusement Arcades

With these business loans for amusement arcades, the SBA guarantees the lender that the loan will be repaid. This amusement arcades loan for $50,000 was given to a California entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Standard Bank, out of Los Angeles, California. The loan was granted and they received $50,000 to help grow their Los Angeles, California business.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT ARCADES
LOS ANGELES, CA 90006

SBA Loan Lender

FIRST STANDARD BANK
1000 WILSHIRE BLVD, STE 100
LOS ANGELES, CA 90017

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

713120 - Amusement Arcades

Loan Approval Date

12/28/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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 Approved Banks in Los Angeles, California

California SBA Banks