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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Tobacco And Tobacco Product Merchant Wholesalers Loan | ||||
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Los Angeles SBA Lenders
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Los Angeles, California Bank Gives SBA Loan to Tobacco And Tobacco Product Merchant Wholesalers CompanyWant to talk with a Los Angeles, California bank about an SBA loan? Here's one California business loan, issued by a Los Angeles bank, that was approved by the SBA. Applying for an SBA loan with Nara Bank worked out well for our friends at one local business in Los Angeles, California. The business was able to get an SBA loan for $756,000. Sweet! SBA Loan Borrower COMPANY TYPE: TOBACCO AND TOBACCO PRODUCT MERCHANT WHOLESALERS SBA Loan Lender NARA BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424940 - Tobacco and Tobacco Product Merchant Wholesalers Loan Approval Date 7/18/2006 Loan Approval Gross Amount $756,000 Loan Approval from the SBA Of the total $756,000 loan amount, the SBA guaranteed $567,000. 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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: SBA Approved Banks in Los Angeles, California
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