Getting an SBA Loan for Nondurable Goods Merchant Wholesalers

With these commercial loans for nondurable goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This nondurable goods merchant wholesalers loan for $150,000 was given to a California entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Torrance, California was able to borrow $150,000 from California Bank & Trust. The SBA made the loan possible by guaranteeing $75,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS
Torrance, CA 90503

SBA Loan Lender

CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833

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

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

12/2/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 6 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Torrance CA, you ought to talk with a local Torrance SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Torrance businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. California Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, California Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Attracting Investors

SBA 7A Banks for Sacramento, California Loans

Where to Get an SBA Loan California