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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Limited-Service Restaurants Loan | ||||
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Nara Bank
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Business Loan from Nara Bank Given to Limited-Service Restaurants CompanyAn SBA loan from Nara Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Nyack, New York business owner got a $490,000 loan. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Nara Bank, out of Los Angeles, California. The loan was granted and they received $490,000 to help grow their Nyack, New York business. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender NARA BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/16/2006 Loan Approval Gross Amount $490,000 Loan Approval from the SBA Of the total $490,000 loan amount, the SBA guaranteed $367,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $490,000. How would you spend $490,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Participating Banks in Los Angeles, California Getting an SBA Loan in California
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