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December 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Carson, Business Loans > Merchants Bank - California Natl Carson Business Loans > Independent Artists, Writers, And Performers Loan | ||||
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How to Get SBA Money in Los Angeles, California
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California Bank Loan Issued to Independent Artists, Writers, And Performers CompanyCaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, a California bank provides the loan. By giving the right information to Merchants Bank - California Natl, this Los Angeles, California business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: INDEPENDENT ARTISTS, WRITERS, AND PERFORMERS SBA Loan Lender MERCHANTS BANK - CALIFORNIA NATL Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 711510 - Independent Artists, Writers, and Performers Loan Approval Date 1/11/2007 Loan Approval Gross Amount $1,440,000 Loan Approval from the SBA Of the total $1,440,000 loan amount, the SBA guaranteed $1,080,000. 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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Merchants Bank - California Natl 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: SBA Participating Banks in Carson, California
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