Get an SBA Loan for Food Supplement Stores

With these loans for food supplement stores, the SBA guarantees the lender that the loan will be repaid. This food supplement stores loan for $650,000 was given to a California entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Fullerton Community Bank, Fsb, out of Fullerton, California. The loan was granted and they received $650,000 to help grow their Costa Mesa, California business.

SBA Loan Borrower

COMPANY TYPE: FOOD SUPPLEMENT STORES
COSTA MESA, CA 92626

SBA Loan Lender

FULLERTON COMMUNITY BANK, FSB
200 W COMMONWEALTH AVE
FULLERTON, CA 92832

This commercial loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

1/26/2005

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 30 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

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