Borrowing Money for Certified Public Accountants

With these loans for certified public accountants, the SBA guarantees the lender that the loan will be repaid. This certified public accountants loan for $75,000 was given to a California entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Laguna Beach, California was able to borrow $75,000 from South Cnty Bank. The SBA made the loan possible by guaranteeing $37,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CERTIFIED PUBLIC ACCOUNTANTS
Laguna Beach, CA 92651

SBA Loan Lender

SOUTH CNTY BANK
22342 AVENIDA EMPRESA, STE A1
RANCHO SANTA MARGARIT, CA 92688

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541211 - Certified Public Accountants

Loan Approval Date

7/8/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like South Cnty 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.

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