Borrowing Money for Caterers

Looking for small business loans for caterers? Try the SBA. This $42,000 caterers loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Alliance Bank, out of Culver City, California. The loan was granted and they received $42,000 to help grow their Los Angeles, California business.

SBA Loan Borrower

COMPANY TYPE: CATERERS
LOS ANGELES, CA 90029

SBA Loan Lender

ALLIANCE BANK
100 CORPORATE POINTE
CULVER CITY, CA 90230

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722320 - Caterers

Loan Approval Date

1/16/2001

Loan Approval Gross Amount

$42,000

Loan Approval from the SBA

Of the total $42,000 loan amount, the SBA guaranteed $31,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 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.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Alliance Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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