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November 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Pacific City Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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Business Loan from Pacific City Bank
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Redlands, California Business Gets SBA-Guaranteed Funding from Pacific City BankPacific City Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. Getting a small business loan in Redlands, California was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Pacific City Bank, operating out of Los Angeles, California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender PACIFIC CITY BANK 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 721110 - Hotels and Motels Loan Approval Date 7/28/2005 Loan Approval Gross Amount $185,000 Loan Approval from the SBA Of the total $185,000 loan amount, the SBA guaranteed $138,750. 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? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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. Related Links: Advice on Getting a Small Business Loan SBA Approved Banks in Los Angeles, California SBA Participating Banks in California
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