Irvine, California Lender Lends Money to Electronic Parts And Equipment Company

An Irvine, California small business loan can be yours. Learn how one firm got a $392,500 business loan from this California bank.

This loan to a local firm is a good example of an SBA loan. Spectrum Bank made the loan and the SBA guaranteed a portion of the loan. Many other California entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT
LAGUNA HILLS, CA 92653

SBA Loan Lender

SPECTRUM BANK
15615 ALTON PKWY
IRVINE, CA 92618

This SBA loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5065 - Electronic Parts and Equipment

NAICS Code

423690 - Electronic Parts and Equipment Merchant Wholesalers

Loan Approval Date

5/20/2004

Loan Approval Gross Amount

$392,500

Loan Approval from the SBA

Of the total $392,500 loan amount, the SBA guaranteed $294,375.

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 8 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Laguna Hills CA, you ought to talk with a local Laguna Hills SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Laguna Hills businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Spectrum Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Spectrum Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Debt Financing

Small Business Banks in Irvine, California

Where to Get an SBA Loan California