Financing for Specialty Trade Contractors

Looking for loans for specialty trade contractors? Talk to a banker who works with the SBA. This $844,700 specialty trade contractors loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in Fullerton, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was 1st Centennial Bank, based in Redlands, California.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
FULLERTON, CA 92831

SBA Loan Lender

1ST CENTENNIAL BANK
218 E STATE ST
REDLANDS, CA 92373

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

7/6/2007

Loan Approval Gross Amount

$844,700

Loan Approval from the SBA

Of the total $844,700 loan amount, the SBA guaranteed $633,525.

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 9 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must 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.

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 1st Centennial 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.

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