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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Encino, Business Loans > First Private Bank & Trust Encino Business Loans > Florists Loan | ||||
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First Private Bank & Trust
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Los Angeles, California Business Gets SBA-Guaranteed Funding from First Private Bank & TrustFirst Private Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. This small firm knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was First Private Bank & Trust, based in Encino, California. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender FIRST PRIVATE BANK & TRUST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453110 - Florists Loan Approval Date 7/30/2004 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Private Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Best Banks in Encino, California
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