Montebello, California Business Gets SBA-Guaranteed Funding from Community Bank

An SBA loan from Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Montebello, California business owner got a $530,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Community Bank, out of City Of Industry, California. The loan was granted and they received $530,000 to help grow their Montebello, California business.

SBA Loan Borrower

COMPANY TYPE: WOOD HOUSEHOLD FURNITURE
MONTEBELLO, CA 90640

SBA Loan Lender

COMMUNITY BANK
150 S HACIENDA BLVD
CITY OF INDUSTRY, CA 91745

This lender issued this business loan under the 7A SBA 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.

SIC Code

2511 - Wood Household Furniture

Loan Approval Date

3/16/2000

Loan Approval Gross Amount

$530,000

Loan Approval from the SBA

Of the total $530,000 loan amount, the SBA guaranteed $397,500.

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 16 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Find Start-Up Capital

SBA 7A Banks for City Of Industry, California Loans

SBA California Banks