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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Insurance Agencies And Brokerages Loan | ||||
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Banks for Businesses in California
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Local Business Gets a California Business LoanBusiness loans in California are hard to find these days. We take a look at one California business loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Los Angeles, California was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Center Bank. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender CENTER 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 524210 - Insurance Agencies and Brokerages Loan Approval Date 6/25/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My 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. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 Friends and Family Network SBA 7A Banks for Los Angeles, California Loans Where to Get an SBA Loan California
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