Los Angeles, California Lender Lends Money to Used Car Dealers Company

Find Los Angeles, California banks that specialize in SBA loans and know how to work with entrepreneurs. Far East National Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in San Pedro, California starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Far East National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
SAN PEDRO, CA 90732

SBA Loan Lender

FAR EAST NATIONAL BANK
977 N BROADWAY
LOS ANGELES, CA 90012

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

2/9/2005

Loan Approval Gross Amount

$512,000

Loan Approval from the SBA

Of the total $512,000 loan amount, the SBA guaranteed $384,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 7 existing jobs.

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

If you want money for new small business in San Pedro CA, you ought to talk with a local San Pedro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to San Pedro businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Far East National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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