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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > City Of Industry, Business Loans > American Continental Bank City Of Industry Business Loans > Insurance Agencies And Brokerages Loan | ||||
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SBA Lenders in California
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Palmdale, California Business Gets SBA-Guaranteed Funding from American Continental BankAmerican Continental Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palmdale, California was able to borrow $403,000 from American Continental Bank. The SBA made the loan possible by guaranteeing $302,250 of this California small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender AMERICAN CONTINENTAL BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 7/30/2007 Loan Approval Gross Amount $403,000 Loan Approval from the SBA Of the total $403,000 loan amount, the SBA guaranteed $302,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: Best City Of Industry, California Banks for Small Business
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