Borrego Springs Bank SBA Loan to Mattresses, Foundations, And Convertible Beds Company

Searching for a California small business loan? Here's one California business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in La Puente, California was able to borrow $920,000 from Borrego Springs Bank. The SBA made the loan possible by guaranteeing $690,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MATTRESSES, FOUNDATIONS, AND CONVERTIBLE BEDS
LA PUENTE, CA 91746

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2515 - Mattresses, Foundations, and Convertible Beds

Loan Approval Date

1/24/2000

Loan Approval Gross Amount

$920,000

Loan Approval from the SBA

Of the total $920,000 loan amount, the SBA guaranteed $690,000.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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