Raising Money for Nondurable Goods Wholesalers

With these business loans for nondurable goods wholesalers, the SBA guarantees the lender that the loan will be repaid. This nondurable goods wholesalers loan for $1,332,000 was given to a California entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $1,332,000 from Center Bank. The SBA made the loan possible by guaranteeing $999,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS WHOLESALERS
LOS ANGELES, CA 90020

SBA Loan Lender

CENTER BANK
253 N WESTERN AVE
LOS ANGELES, CA 90004

This small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending background and a thorough understanding of SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422990 - Nondurable Goods Wholesalers

Loan Approval Date

6/20/2003

Loan Approval Gross Amount

$1,332,000

Loan Approval from the SBA

Of the total $1,332,000 loan amount, the SBA guaranteed $999,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Center Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Center 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:

Financing Your Business

Banks in Los Angeles, California

California SBA Banks