SBA Loan from Tomatobank Helps Electrical And Electronic Appliance, Television, And Radio Sets Company
An SBA loan from Tomatobank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a North Hollywood, California business owner got a $350,000 loan.
This business knew how to go about getting a business bank loan. Based in North Hollywood, California, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Tomatobank, based in City Of Industry, California.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL AND ELECTRONIC APPLIANCE, TELEVISION, AND RADIO SETS
NORTH HOLLYWOOD, CA 91605
SBA Loan Lender
TOMATOBANK
18605 E GALE AVE, STE 238
CITY OF INDUSTRY, CA 91748
This lender processed this commercial 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
423620 - Electrical and Electronic Appliance, Television, and Radio Sets
Loan Approval Date
8/28/2007
Loan Approval Gross Amount
$350,000
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $175,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 10 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.
Next Steps for Getting an SBA Loan
If you want money for new small business in North Hollywood CA, you ought to talk with a local North Hollywood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to North Hollywood businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Tomatobank and they will explain how you can get an SBA loan for your company.
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:
Borrowing Money from Friends and Family
SBA Banks in City Of Industry, California
Getting a Business Loan in California