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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Far East National Bank Los Angeles Business Loans > Cut And Sew Apparel Manufacturing Loan | ||||
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Far East National Bank
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Santa Fe Springs, California Business Gets SBA-Guaranteed Funding from Far East National BankFar East National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Santa Fe Springs, California was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Far East National Bank, operating out of Los Angeles, California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: CUT AND SEW APPAREL MANUFACTURING SBA Loan Lender FAR EAST NATIONAL 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 315299 - Cut and Sew Apparel Manufacturing Loan Approval Date 2/1/2005 Loan Approval Gross Amount $275,000 Loan Approval from the SBA Of the total $275,000 loan amount, the SBA guaranteed $206,250. 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 20 employees. The SBA loan documents indicated that the loan would help generate 20 new jobs and retain 20 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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. Related Links: Who Lends Money to Small Businesses in Los Angeles, California
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