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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Saehan Bank Los Angeles Business Loans > Electronic Parts And Equipment Loan | ||||
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I Need an SBA Loan in Paramount, California
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Electronic Parts and Equipment Wholesalers Commercial LoansWith these commercial loans for electronic parts and equipment wholesalers, the SBA guarantees the lender that the loan will be repaid. This electronic parts and equipment wholesalers loan for $200,000 was given to a California entrepreneur in 2000. This small business knew how to go about getting a business bank loan. Based in Paramount, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Saehan Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT SBA Loan Lender SAEHAN BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5065 - Electronic Parts and Equipment NAICS Code 421690 - Electronic Parts and Equipment Wholesalers Loan Approval Date 10/23/2000 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $180,000. 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 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Saehan Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - How to Decide How Much to Raise SBA 7A Banks in Los Angeles, California
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