Snack and Nonalcoholic Beverage Bars Loans

With these loans for snack and nonalcoholic beverage bars, the SBA guarantees the lender that the loan will be repaid. This snack and nonalcoholic beverage bars loan for $242,000 was given to a California entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sierra Madre, California was able to borrow $242,000 from Wilshire State Bank. The SBA made the loan possible by guaranteeing $181,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
SIERRA MADRE, CA 91024

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

This lender provides SBA 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.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

1/30/2002

Loan Approval Gross Amount

$242,000

Loan Approval from the SBA

Of the total $242,000 loan amount, the SBA guaranteed $181,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wilshire State 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:

Financing Your Business

Who Lends Money to Small Businesses in Los Angeles, California

Getting an SBA Loan in California