Business Loan from 1st Centennial Bank Given to Structural Metal Work Company

An SBA loan from 1st Centennial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Highland, California business owner got a $420,000 loan.

This business knew how to go about getting a business bank loan. Based in Highland, California, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was 1st Centennial Bank, based in Redlands, California.

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL METAL WORK
HIGHLAND, CA 92346

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.

SIC Code

3449 - Structural Metal Work

Loan Approval Date

7/3/2000

Loan Approval Gross Amount

$420,000

Loan Approval from the SBA

Of the total $420,000 loan amount, the SBA guaranteed $315,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 35 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 35 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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SBA Banks in Redlands, California

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