How to Get a Loan for Lawyers

With these business loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $670,500 was given to a California entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Union Bank Of California, out of San Bernardino, California. The loan was granted and they received $670,500 to help grow their Tarzana, California business.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
TARZANA, CA 91356

SBA Loan Lender

UNION BANK OF CALIFORNIA
140 S ARROWHEAD
SAN BERNARDINO, CA 92408

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

541110 - Lawyers

Loan Approval Date

4/30/2001

Loan Approval Gross Amount

$670,500

Loan Approval from the SBA

Of the total $670,500 loan amount, the SBA guaranteed $502,875.

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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

If you want money for new small business in Tarzana CA, you ought to talk with a local Tarzana SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tarzana businesses.

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:

Business Line of Credit

Small Bank Loans in San Bernardino, California

SBA Lenders in California