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November 21, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Drinking Places Loan | ||||
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Center Bank Tacoma
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Center Bank SBA Loan to Drinking Places CompanyCenter Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Washington entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Tacoma, Washington was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Center Bank, operating out of Los Angeles, California. Here are the details on this Washington small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender CENTER BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 1/8/2003 Loan Approval Gross Amount $1,245,000 Loan Approval from the SBA Of the total $1,245,000 loan amount, the SBA guaranteed $933,750. 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 11 employees. The loan application indicated that the loan would help retain 11 existing jobs. Start the Process for Getting an SBA Loan Today! 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. 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: Small Bank Loans in Los Angeles, California
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