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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Irvine, Business Loans > Spectrum Bank Irvine Business Loans > Computer And Office Machine Repair And Maintenance Loan | ||||
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SBA 7A Banks in California
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Computer and Office Machine Repair and Maintenance Bank LoansLooking for bank loans for computer and office machine repair and maintenance? The SBA may be the answer. This $68,000 computer and office machine repair and maintenance loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fountain Valley, California was able to borrow $68,000 from Spectrum Bank. The SBA made the loan possible by guaranteeing $57,800 of this California small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER AND OFFICE MACHINE REPAIR AND MAINTENANCE SBA Loan Lender SPECTRUM BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811212 - Computer and Office Machine Repair and Maintenance Loan Approval Date 5/27/2005 Loan Approval Gross Amount $68,000 Loan Approval from the SBA Of the total $68,000 loan amount, the SBA guaranteed $57,800. More Information on This SBA Loan The borrower borrowed this money for a new 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 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Spectrum 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 Banks in Irvine, California
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