Entrepreneur Works With Los Angeles, California Bank to Get an SBA Loan

Thinking about meeting with a Los Angeles, California bank about an SBA loan? Here's one California business loan, issued by a Los Angeles bank, that was approved by the SBA.

Applying for an SBA loan with City National Bank worked out well for our friends at one local company in Ventura, California. The business was able to get an SBA loan for $835,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: MILITARY ARMORED VEHICLE, TANK, AND TANK COMPONENT MANUFACTURING
VENTURA, CA 93003

SBA Loan Lender

CITY NATIONAL BANK
606 S OLIVE ST
LOS ANGELES, CA 90014

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336992 - Military Armored Vehicle, Tank, and Tank Component Manufacturing

Loan Approval Date

12/8/2003

Loan Approval Gross Amount

$835,000

Loan Approval from the SBA

Of the total $835,000 loan amount, the SBA guaranteed $751,500.

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 25 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 City National Bank 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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