Bakersfield, California Business Gets SBA-Guaranteed Funding from First Standard Bank

First Standard Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Standard Bank, out of Los Angeles, California. The loan was granted and they received $1,013,000 to help grow their Bakersfield, California business.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
BAKERSFIELD, CA 93307

SBA Loan Lender

FIRST STANDARD BANK
1000 WILSHIRE BLVD, STE 100
LOS ANGELES, CA 90017

This lender provides SBA guaranteed bank 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

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

4/19/2006

Loan Approval Gross Amount

$1,013,000

Loan Approval from the SBA

Of the total $1,013,000 loan amount, the SBA guaranteed $759,750.

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 4 employees. The loan application indicated that the funding would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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 - How to Borrow Money

Banks in Los Angeles, California

Where to Get an SBA Loan California