La Jolla Bank, Fsb Gives SBA Loan to Machine Shops Company

Small business loans in California are tough to come by these days. We take a look at one California small business loan, provided by a California bank, that was approved by the SBA.

Getting a small business loan in Baldwin Park, California was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from La Jolla Bank, Fsb. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
BALDWIN PARK, CA 91706

SBA Loan Lender

LA JOLLA BANK, FSB
128 N BROADWAY
ESCONDIDO, CA 92025

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

332710 - Machine Shops

Loan Approval Date

9/4/2002

Loan Approval Gross Amount

$509,300

Loan Approval from the SBA

Of the total $509,300 loan amount, the SBA guaranteed $381,975.

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 14 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like La Jolla Bank, Fsb are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

SBA Participating Banks in Escondido, California

Getting a Business Loan in California