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November 23, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > City National Bank Los Angeles Business Loans > Electrical Contractors Loan | ||||
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California Small Business Loans from City National Bank
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Valencia, California Business Gets SBA-Guaranteed Funding from City National BankCity National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Valencia, California was able to borrow $952,200 from City National Bank. The SBA made the loan possible by guaranteeing $714,150 of this California small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS SBA Loan Lender CITY NATIONAL BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235310 - Electrical Contractors Loan Approval Date 10/13/2000 Loan Approval Gross Amount $952,200 Loan Approval from the SBA Of the total $952,200 loan amount, the SBA guaranteed $714,150. 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 10 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $952,200 loan. Remember, feel the fear, and do it anyway. 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 From a Venture Capitalist Best Banks in Los Angeles, California
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