Entrepreneur Works With Temecula, California Bank to Get an SBA Loan
Thinking about meeting with a Temecula, California bank about a business loan? Here's one Illinois business loan, issued by a Temecula bank, that was approved by the SBA.
Applying for an SBA loan with Temecula Valley Bank worked out well for our friends at one local business in Chicago, Illinois. The business was able to get an SBA loan for $1,039,200. Nice!
SBA Loan Borrower
COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
CHICAGO, IL 60619
SBA Loan Lender
TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590
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 to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
4/14/2004
Loan Approval Gross Amount
$1,039,200
Loan Approval from the SBA
Of the total $1,039,200 loan amount, the SBA guaranteed $779,400.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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 Credit Evaluation
Small Business Banks in Temecula, California
Getting an SBA Loan in California