Workshop to Offer Advice on SBA Loans
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Information about obtaining Small Business Administration loans will be the subject of a free workshop hosted Wednesday by TransWorld Bank.
The SBA is a federal agency dedicated to providing government-guaranteed loans and other services to entrepreneurs.
“The reason that we do these workshops, particularly with the economy improving in Southern California, is that businesses are growing,” said TransWorld Vice President Elizabeth Nielsen.
“The SBA loans are a good way for [businesses] to receive longer-term financing for equipment or other improvements at a lower rate,” Nielsen said.
The workshop will be led by TransWorld Senior Vice President Timothy Weaver and executives from two other local businesses who regularly work with the SBA. Discussion topics will include loan eligibility and collateral requirements for different types of SBA loans.
TransWorld Bank, which was purchased last year by Glendale Federal Bank, is a member of the SBA’s preferred lenders program, a status that allows it to approve loans without SBA review.
The type of equipment financed by the bank for its customers includes everything from paint-spray booths for auto repair shops to laser eye-surgery equipment, Nielsen said.
Wednesday’s workshop will be held from 5:30 to 7:30 p.m at TransWorld’s San Fernando office, 456 S. Brand Blvd.
The same workshop will be offered Feb. 5 at TransWorld’s Sherman Oaks office, 15233 Ventura Blvd.
To register for the free workshops, call (818) 783-7501.
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