Getting an SBA Loan for Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers

Looking for commercial loans for jewelry, watch, precious stone, and precious metal wholesalers? The SBA may be the answer. This $920,000 jewelry, watch, precious stone, and precious metal wholesalers loan was issued by a California bank.

This business knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wilshire State Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: JEWELRY, WATCHES AND PRECIOUS STONES
LOS ANGELES, CA 90058

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

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.

SIC Code

5094 - Jewelry, Watches and Precious Stones

NAICS Code

421940 - Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers

Loan Approval Date

6/15/2000

Loan Approval Gross Amount

$920,000

Loan Approval from the SBA

Of the total $920,000 loan amount, the SBA guaranteed $690,000.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

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 Wilshire State 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.

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