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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Packaged Frozen Food Merchant Wholesalers Loan | ||||
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Business Loans for Packaged Frozen Food Merchant WholesalersWith these business loans for packaged frozen food merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This packaged frozen food merchant wholesalers loan for $100,000 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 $100,000 from Center Bank. The SBA made the loan possible by guaranteeing $50,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PACKAGED FROZEN FOOD MERCHANT WHOLESALERS SBA Loan Lender CENTER BANK This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 424420 - Packaged Frozen Food Merchant Wholesalers Loan Approval Date 12/23/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Center 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. Related Links: Raising VC Money for Social Networking Companies Who Lends Money to Small Businesses in Los Angeles, California Browse All Business Loan Sources for California
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