Growing Company Gets a California Small Business Loan

CaliforniaBank loans are available to California firms through the SBA. In this case, a California bank provides the loan.

You can learn something about getting a small business loan in Santa Monica, California by studying this loan to a local company, made back in 2005. Banks like Union Bank Of California may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF REAL ESTATE PROPERTY
SANTA MONICA, CA 90401

SBA Loan Lender

UNION BANK OF CALIFORNIA
400 CALIFORNIA ST, 1ST FL
SAN FRANCISCO, CA 94104

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

531190 - Lessors of Real Estate Property

Loan Approval Date

1/26/2005

Loan Approval Gross Amount

$1,395,000

Loan Approval from the SBA

Of the total $1,395,000 loan amount, the SBA guaranteed $1,046,250.

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 70 employees. The SBA loan application for the borrower indicated that the loan would help retain 70 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Santa Monica or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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