Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Small Business Loans

With these small business loans for jewelry, watch, precious stone, and precious metal merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This jewelry, watch, precious stone, and precious metal merchant wholesalers loan for $562,500 was given to a California entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Cathay Bank, out of Los Angeles, California. The loan was granted and they received $562,500 to help grow their Pasadena, California business.

SBA Loan Borrower

COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL MERCHANT WHOLESALERS
PASADENA, CA 91107

SBA Loan Lender

CATHAY BANK
777 N BROADWAY
LOS ANGELES, CA 90012

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

423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers

Loan Approval Date

1/3/2005

Loan Approval Gross Amount

$562,500

Loan Approval from the SBA

Of the total $562,500 loan amount, the SBA guaranteed $421,875.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Cathay Bank 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.

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