Los Angeles, California Business Gets SBA-Guaranteed Funding from United Pacific Bank

An SBA loan from United Pacific Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Los Angeles, California business owner got a $604,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $604,000 from United Pacific Bank. The SBA made the loan possible by guaranteeing $453,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LOS ANGELES, CA 90016

SBA Loan Lender

UNITED PACIFIC BANK
1630 S AZUSA AVE
CITY OF INDUSTRY, CA 91748

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/2/2005

Loan Approval Gross Amount

$604,000

Loan Approval from the SBA

Of the total $604,000 loan amount, the SBA guaranteed $453,000.

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 6 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Incubators

Best City Of Industry, California Banks for Small Business

California SBA Bank Lenders