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December 20, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Irvine, Business Loans > Spectrum Bank Irvine Business Loans > Full-Service Restaurants Loan | ||||
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Spectrum Bank
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Long Beach, California Business Gets SBA-Guaranteed Funding from Spectrum BankSpectrum Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Spectrum Bank, out of Irvine, California. The loan was granted and they received $100,000 to help grow their Long Beach, California business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SPECTRUM BANK 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 722110 - Full-Service Restaurants Loan Approval Date 4/3/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. This SBA loan request indicated that the loan would help generate 9 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Spectrum Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding - How to Borrow Money SBA Banks in Irvine, California
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