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January 21, 2025 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Cerritos, Business Loans > First Choice Bank Cerritos Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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Who Lends Money to Los Angeles Businesses
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Los Angeles, California Entrepreneur Gets an SBA LoanWould 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. Getting a small business loan in Los Angeles, California was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First Choice Bank. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender FIRST CHOICE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 2/21/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 50 employees. The loan application indicated that the loan would help generate 50 new jobs and retain 50 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Borrowing Money from Friends and Family Where to Get an SBA Loan in Cerritos, California
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