SBA Loan from Discovery Bank Helps Showcase, Partition, Shelving, And Locker Manufacturing Company

An SBA loan from Discovery Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Escondido, California business owner got a $150,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Escondido, California, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Discovery Bank, based in San Marcos, California.

SBA Loan Borrower

COMPANY TYPE: SHOWCASE, PARTITION, SHELVING, AND LOCKER MANUFACTURING
ESCONDIDO, CA 92029

SBA Loan Lender

DISCOVERY BANK
338 VIA VERA CRUZ
SAN MARCOS, CA 92078

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337215 - Showcase, Partition, Shelving, and Locker Manufacturing

Loan Approval Date

6/27/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Realistic Debt Financing Options

Small Bank Loans in San Marcos, California

Getting an SBA Loan in California