American Security Bank Gives Bank Loan to Wood Household Furniture Company

Would a California business loan help your company expand? If so, you may want to talk with this California bank, which offers SBA loans to California entrepreneurs.

This small business, based in Orange, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from American Security Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD HOUSEHOLD FURNITURE
ORANGE, CA 92867

SBA Loan Lender

AMERICAN SECURITY BANK
1 MACARTHUR PL, STE 110
SANTA ANA, CA 92707

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2511 - Wood Household Furniture

NAICS Code

442110 - Furniture Stores

Loan Approval Date

5/8/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 12 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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