California Bank Loan Issued to Limited-Service Restaurants Company

SBA loans in California are hard to find these days. We take a look at one California SBA 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 particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Security Pacific Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LOS ANGELES, CA 90037

SBA Loan Lender

SECURITY PACIFIC BANK
12121 WILSHIRE BLVD, STE 1350
LOS ANGELES, CA 90025

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/30/2006

Loan Approval Gross Amount

$327,000

Loan Approval from the SBA

Of the total $327,000 loan amount, the SBA guaranteed $245,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the funding would help generate 5 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Security Pacific Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Security Pacific Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Borrow Money

Where to Get an SBA Loan in Los Angeles, California

Getting an SBA Loan in California