Company Gets a California Small Business Loan

Would a California SBA loan help your business get to the next level? If so, you may want to talk with this California bank, which offers SBA loans to California entrepreneurs.

This company, based in Los Angeles, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Gateway Business Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
LOS ANGELES, CA 90049

SBA Loan Lender

GATEWAY BUSINESS BANK
18000 STUDEBAKER RD, STE 550
CERRITOS, CA 90703

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

812112 - Beauty Salons

Loan Approval Date

11/30/2007

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $116,250.

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 17 employees. This SBA loan request indicated that the loan would help retain 17 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Los Angeles or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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