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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Rancho Santa Margarit, Business Loans > South Cnty Bank Rancho Santa Margarit Business Loans > Schools And Instruction Loan | ||||
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South Cnty Bank Business Loans Diamond Bar
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SBA Loan from South Cnty Bank Helps Schools And Instruction CompanyAn SBA loan from South Cnty Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Diamond Bar, California business owner got a $342,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Diamond Bar, California was able to borrow $342,000 from South Cnty Bank. The SBA made the loan possible by guaranteeing $256,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND INSTRUCTION SBA Loan Lender SOUTH CNTY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611699 - Schools and Instruction Loan Approval Date 10/12/2005 Loan Approval Gross Amount $342,000 Loan Approval from the SBA Of the total $342,000 loan amount, the SBA guaranteed $256,500. 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 14 employees. This SBA loan request indicated that the loan would help retain 14 existing jobs. Next Steps for Getting an SBA Loan If you need money to start business in Diamond Bar CA, you ought to talk with a local Diamond Bar SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Diamond Bar businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into South Cnty Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Lenders in Rancho Santa Margarit, California Where to Get an SBA Loan California
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