El Cajon, California Business Gets SBA-Guaranteed Funding from Pacific Western Bank

Pacific Western Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Cajon, California was able to borrow $410,505 from Pacific Western Bank. The SBA made the loan possible by guaranteeing $307,879 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR
EL CAJON, CA 92021

SBA Loan Lender

PACIFIC WESTERN BANK
9955 MISSION GORGE RD
SANTEE, CA 92071

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a deep knowledge SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

3/14/2003

Loan Approval Gross Amount

$410,505

Loan Approval from the SBA

Of the total $410,505 loan amount, the SBA guaranteed $307,879.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $410,505 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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