SBA Loan from Spectrum Bank Helps Millwork Company

An SBA loan from Spectrum Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Anaheim, California business owner got a $430,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Anaheim, California was able to borrow $430,000 from Spectrum Bank. The SBA made the loan possible by guaranteeing $322,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MILLWORK
ANAHEIM, CA 92806

SBA Loan Lender

SPECTRUM BANK
15615 ALTON PKWY
IRVINE, CA 92618

This lender provides SBA debt financing 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

321918 - Millwork

Loan Approval Date

4/27/2006

Loan Approval Gross Amount

$430,000

Loan Approval from the SBA

Of the total $430,000 loan amount, the SBA guaranteed $322,500.

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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 18 existing jobs.

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

If you are wondering how to raise money for a company in Anaheim CA, you ought to talk with a local Anaheim SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Anaheim businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Spectrum Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Line of Credit

SBA Approved Banks in Irvine, California

Getting a Business Loan in California