East West Bank Gives Small Business Loan to Full-Service Restaurants Company

Looking to get a California bank loan? This California entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Reseda, California by studying this loan to a local company, made back in 2007. Banks like East West Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
RESEDA, CA 91335

SBA Loan Lender

EAST WEST BANK
135 N LOS ROBLES AVE, 7TH FL
PASADENA, CA 91101

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/2/2007

Loan Approval Gross Amount

$558,000

Loan Approval from the SBA

Of the total $558,000 loan amount, the SBA guaranteed $418,500.

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. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. East West Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, East West Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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