San Francisco, California Lender Lends Money to Pharmacies And Drug Stores Company
Find San Francisco, California banks that specialize in SBA loans and know how to work with entrepreneurs. United Commercial Bank is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Los Angeles, California starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from United Commercial Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: PHARMACIES AND DRUG STORES
LOS ANGELES, CA 90057
SBA Loan Lender
UNITED COMMERCIAL BANK
555 MONTGOMERY ST
SAN FRANCISCO, CA 94111
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
446110 - Pharmacies and Drug Stores
Loan Approval Date
3/21/2006
Loan Approval Gross Amount
$230,000
Loan Approval from the SBA
Of the total $230,000 loan amount, the SBA guaranteed $172,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.
Getting an SBA Loan For Your Business
If you are raising money in Los Angeles CA, you ought to talk with a local Los Angeles SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Los Angeles businesses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Understanding Dilution
SBA Participating Banks in San Francisco, California
Browse All Business Loan Sources for California