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November 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Tarzana, Business Loans > East West Bank Tarzana Business Loans > Investment Advice Loan | ||||
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California Small Business Funding
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Where to Get Capital for Investment AdviceLooking for small business loans for investment advice? The SBA may be the answer. This $36,000 investment advice loan was issued by a California bank. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with East West Bank, out of Tarzana, California. The loan was granted and they received $36,000 to help grow their Santa Monica, California business. SBA Loan Borrower COMPANY TYPE: INVESTMENT ADVICE SBA Loan Lender EAST WEST BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 523930 - Investment Advice Loan Approval Date 10/31/2001 Loan Approval Gross Amount $36,000 Loan Approval from the SBA Of the total $36,000 loan amount, the SBA guaranteed $30,600. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Obtaining Funding From a Venture Capitalist SBA Participating Banks in Tarzana, California
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