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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Pasadena, Business Loans > Community Bank Pasadena Business Loans > Beauty Shops Loan | ||||
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SBA Lender Pasadena
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Pasadena, California Lender Lends Money to Beauty Shops CompanyWant to talk with a Pasadena, California bank about a small business loan? Here's one California business loan, issued by a Pasadena bank, that was approved by the SBA. Applying for an SBA loan with Community Bank worked out well for our friends at one local company in Los Angeles, California. They got an SBA loan for $188,000. Sweet! SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender COMMUNITY BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 8/10/2000 Loan Approval Gross Amount $188,000 Loan Approval from the SBA Of the total $188,000 loan amount, the SBA guaranteed $141,000. 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 16 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. 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: Accountant's Role in Securing Financing Best Banks for Small Business in Pasadena, California SBA Participating Banks in California
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