Raising Money for Paint, Varnish, and Supplies Merchant Wholesalers

With these bank loans for paint, varnish, and supplies merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This paint, varnish, and supplies merchant wholesalers loan for $378,000 was given to a California entrepreneur in 2003.

This company knew how to go about getting a business bank loan. Based in Van Nuys, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Commerce Bank, based in Encino, California.

SBA Loan Borrower

COMPANY TYPE: PAINT, VARNISH, AND SUPPLIES MERCHANT WHOLESALERS
VAN NUYS, CA 91406

SBA Loan Lender

FIRST COMMERCE BANK
16861 VENTURA BLVD, STE 100
ENCINO, CA 91436

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424950 - Paint, Varnish, and Supplies Merchant Wholesalers

Loan Approval Date

8/21/2003

Loan Approval Gross Amount

$378,000

Loan Approval from the SBA

Of the total $378,000 loan amount, the SBA guaranteed $283,500.

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 11 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 - Getting Venture Capital

SBA Approved Banks in Encino, California

California SBA 7A Lenders