Borrowing Money for Independent Artists, Writers, and Performers
With these bank loans for independent artists, writers, and performers, the SBA guarantees the lender that the loan will be repaid. This independent artists, writers, and performers loan for $182,000 was given to a California entrepreneur in 2005.
Getting a small business loan in Los Angeles, California was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from City National Bank, operating out of Los Angeles, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: INDEPENDENT ARTISTS, WRITERS, AND PERFORMERS
LOS ANGELES, CA 90064
SBA Loan Lender
CITY NATIONAL BANK
606 S OLIVE ST
LOS ANGELES, CA 90014
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
711510 - Independent Artists, Writers, and Performers
Loan Approval Date
11/28/2005
Loan Approval Gross Amount
$182,000
Loan Approval from the SBA
Of the total $182,000 loan amount, the SBA guaranteed $91,000.
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 7 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans provide smart, affordable business financing for small businesses looking to expand.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into City National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
The Art of Bootstrapping
Small Bank Loans in Los Angeles, California
Getting an SBA Loan in California