Entrepreneur Works With Borrego Springs, California Bank to Get an SBA Loan

Get to know Borrego Springs, California banks that specialize in small business loans and know how to work with entrepreneurs. Borrego Springs Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mascot, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Borrego Springs Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
MASCOT, TN 37806

SBA Loan Lender

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

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

235930 - Excavation Contractors

Loan Approval Date

12/16/2002

Loan Approval Gross Amount

$680,000

Loan Approval from the SBA

Of the total $680,000 loan amount, the SBA guaranteed $510,000.

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 16 employees. The loan application indicated that the loan would help retain 16 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Mascot TN, you ought to talk with a local Mascot SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mascot businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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