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December 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Supermarkets And Grocery Stores Loan | ||||
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SBA Lenders California
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Los Angeles, California Bank Lends Money to Supermarkets And Grocery Stores Company in Somonauk, IllinoisThinking about meeting with a Los Angeles, California bank about a business loan? Here's one Illinois business loan, issued by a Los Angeles bank, that was approved by the SBA. Applying for an SBA loan with Nara Bank worked out well for our friends at one local business in Somonauk, Illinois. The business was able to get an SBA loan for $987,000. Way to go! SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender NARA BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 3/21/2007 Loan Approval Gross Amount $987,000 Loan Approval from the SBA Of the total $987,000 loan amount, the SBA guaranteed $740,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 11 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 11 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Nara Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 - How to Decide How Much to Raise SBA Banks in Los Angeles, California
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