Borrowing Money for Piece Goods, Notions, and Dry Goods Wholesalers

With these loans for piece goods, notions, and dry goods wholesalers, the SBA guarantees the lender that the loan will be repaid. This piece goods, notions, and dry goods wholesalers loan for $100,000 was given to a California entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was United Commercial Bank, based in Temple City, California.

SBA Loan Borrower

COMPANY TYPE: PIECE GOODS, NOTIONS, AND OTHER DRY GOODS
LOS ANGELES, CA 90021

SBA Loan Lender

UNITED COMMERCIAL BANK
5607 N ROSEMEAD BLVD
TEMPLE CITY, CA 91780

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5131 - Piece Goods, Notions, and Other Dry Goods

NAICS Code

422310 - Piece Goods, Notions, and Dry Goods Wholesalers

Loan Approval Date

7/20/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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 12 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 United Commercial 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 Venture Capital

SBA 7A Lenders in Temple City, California

California SBA Banks