Entrepreneur Works With Los Angeles, California Bank to Get an SBA Loan

Thinking about meeting with a Los Angeles, California bank about an SBA loan? Here's one Maryland business loan, issued by a Los Angeles bank, that was approved by the SBA.

Applying for an SBA loan with Commonwealth Business Bank worked out well for our friends at one local company in Rockville, Maryland. They got an SBA loan for $105,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
ROCKVILLE, MD 20850

SBA Loan Lender

COMMONWEALTH BUSINESS BANK
5055 WILSHIRE BLVD, STE 100
LOS ANGELES, CA 90036

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

811111 - General Automotive Repair

Loan Approval Date

7/12/2006

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Rockville MD, you ought to talk with a local Rockville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rockville businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Commonwealth Business 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.

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