How to Get a Loan for Piece Goods, Notions, and Dry Goods Merchant Wholesalers

With these SBA loans for piece goods, notions, and dry goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This piece goods, notions, and dry goods merchant wholesalers loan for $300,000 was given to a California entrepreneur in 2006.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Uniti Bank, out of Buena Park, California. The loan was granted and they received $300,000 to help grow their Los Angeles, California business.

SBA Loan Borrower

COMPANY TYPE: PIECE GOODS, NOTIONS, AND DRY GOODS MERCHANT WHOLESALERS
LOS ANGELES, CA 90015

SBA Loan Lender

UNITI BANK
6301 BEACH BLVD, STE 100
BUENA PARK, CA 90621

This lender processed this 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

424310 - Piece Goods, Notions, and Dry Goods Merchant Wholesalers

Loan Approval Date

4/25/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 Uniti 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:

Direct Public Offerings

SBA 7A Banks in Buena Park, California

Getting an SBA Loan in California