California SBA Loan Issued to Business Services Company
Small business loans in California are hard to find these days. We take a look at one California small business loan, provided by a California bank, that was approved by the SBA.
By giving the right information to City National Bank, this Sherman Oaks, California business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: BUSINESS SERVICES
SHERMAN OAKS, CA 91423
SBA Loan Lender
CITY NATIONAL BANK
606 S OLIVE ST
LOS ANGELES, CA 90014
This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7389 - Business Services
Loan Approval Date
5/16/2000
Loan Approval Gross Amount
$355,000
Loan Approval from the SBA
Of the total $355,000 loan amount, the SBA guaranteed $266,250.
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 5 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money
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:
Startup Funding Tip
Small Business Banks in Los Angeles, California
SBA Lenders in California