Corona, California Business Gets SBA-Guaranteed Funding from Commercewest Bank

An SBA loan from Commercewest Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Corona, California business owner got a $100,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Commercewest Bank, out of Newport Beach, California. The loan was granted and they received $100,000 to help grow their Corona, California business.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
CORONA, CA 92880

SBA Loan Lender

COMMERCEWEST BANK
4685 MACARTHUR CT, STE 100
NEWPORT BEACH, CA 92660

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541330 - Engineering Services

Loan Approval Date

8/3/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 10 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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.

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