Raising Money for Outpatient Care Centers

With these business loans for outpatient care centers, the SBA guarantees the lender that the loan will be repaid. This outpatient care centers loan for $1,462,000 was given to a California entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Cathay Bank, out of Alhambra, California. The loan was granted and they received $1,462,000 to help grow their Pasadena, California business.

SBA Loan Borrower

COMPANY TYPE: OUTPATIENT CARE CENTERS
PASADENA, CA 91101

SBA Loan Lender

CATHAY BANK
1420 E VALLEY BLVD
ALHAMBRA, CA 91801

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

621498 - Outpatient Care Centers

Loan Approval Date

9/25/2003

Loan Approval Gross Amount

$1,462,000

Loan Approval from the SBA

Of the total $1,462,000 loan amount, the SBA guaranteed $999,993.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 11 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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