Montebello, California Business Gets SBA-Guaranteed Funding from Spectrum Bank

An SBA loan from Spectrum Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Montebello, California business owner got a $100,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Montebello, California, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Spectrum Bank, based in Irvine, California.

SBA Loan Borrower

COMPANY TYPE: JEWELERS' MATERIAL AND LAPIDARY WORK MANUFACTURING
MONTEBELLO, CA 90640

SBA Loan Lender

SPECTRUM BANK
15615 ALTON PKWY
IRVINE, CA 92618

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339913 - Jewelers' Material and Lapidary Work Manufacturing

Loan Approval Date

2/26/2003

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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