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November 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sacramento, Business Loans > California Bank & Trust Sacramento Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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California Bank & Trust Los Angeles
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Los Angeles, California Business Gets SBA-Guaranteed Funding from California Bank & TrustAn SBA loan from California Bank & Trust 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 $89,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $89,000 from California Bank & Trust. The SBA made the loan possible by guaranteeing $44,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender CALIFORNIA BANK & TRUST 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 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 11/22/2005 Loan Approval Gross Amount $89,000 Loan Approval from the SBA Of the total $89,000 loan amount, the SBA guaranteed $44,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like California Bank & Trust and they will explain how you can get an SBA loan for your company. 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: Small Bank Loans in Sacramento, California
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