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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Newport Beach, Business Loans > Commercewest Bank Newport Beach Business Loans > Engineering Services Loan | ||||
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Raising Money in Corona, California With SBA Loans
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Financing for Engineering ServicesLooking for loans for engineering services? Try the SBA. This $75,000 engineering services loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Corona, California was able to borrow $75,000 from Commercewest Bank. The SBA made the loan possible by guaranteeing $37,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender COMMERCEWEST BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 10/18/2007 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. 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 Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Role of Business Plan When Raising Money Best Banks for Small Business in Newport Beach, California Where to Get an SBA Loan California
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