Company Gets a California SBA Loan

Would a California SBA loan help your business get to the next level? If so, you may want to talk with this Utah bank, which offers SBA loans to California entrepreneurs.

This small business, based in Lake Forest, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Celtic Bank Corporation. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LAUNDRY, DRYCLEANING, AND PRESSING MACHINE MANUFACTURING
LAKE FOREST, CA 92630

SBA Loan Lender

CELTIC BANK CORPORATION
340 E 400
SALT LAKE CITY, UT 84111

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Loan Approval Date

5/1/2007

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $1,125,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 20 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Lake Forest CA, you ought to talk with a local Lake Forest SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lake Forest businesses.

While you may be able to find other ways to get money to start a business, 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:

Find Start-Up Capital

SBA Banks in Salt Lake City, Utah

SBA Lenders in Utah