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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Long Beach, Business Loans > Comerica Bank Long Beach Business Loans > Physicians Loan | ||||
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Comerica Bank
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Business Loan from Comerica Bank Given to Physicians CompanyAn SBA loan from Comerica Bank 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 $354,500 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $354,500 from Comerica Bank. The SBA made the loan possible by guaranteeing $265,875 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender COMERICA BANK This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621111 - Physicians Loan Approval Date 9/7/2005 Loan Approval Gross Amount $354,500 Loan Approval from the SBA Of the total $354,500 loan amount, the SBA guaranteed $265,875. 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. 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 Comerica 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: SBA 7A Banks for Long Beach, California Loans Where to Get an SBA Loan California
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