SBA Loan from Union Bank Of California Helps Industrial Supplies Merchant Wholesalers Company

An SBA loan from Union Bank Of California typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Torrance, California business owner got a $50,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Torrance, California, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Union Bank Of California, based in San Francisco, California.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS
TORRANCE, CA 90505

SBA Loan Lender

UNION BANK OF CALIFORNIA
400 CALIFORNIA ST, 1ST FL
SAN FRANCISCO, CA 94104

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423840 - Industrial Supplies Merchant Wholesalers

Loan Approval Date

1/18/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Union Bank Of California and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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