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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > City National Bank Los Angeles Business Loans > Individual And Family Services Loan | ||||
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Raising Money in Montebello, California With SBA Loans
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Individual and Family Services Small Business LoansWith these small business loans for individual and family services, the SBA guarantees the lender that the loan will be repaid. This individual and family services loan for $200,000 was given to a California entrepreneur in 2002. This company knew how to go about getting a business bank loan. Based in Montebello, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was City National Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: INDIVIDUAL AND FAMILY SERVICES SBA Loan Lender CITY NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 624190 - Individual and Family Services Loan Approval Date 9/18/2002 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. 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 80 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 80 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. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from City National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Where to Get an SBA Loan in Los Angeles, California
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