Moreno Valley, California Bank Gives SBA Loan to Metalworking Machinery Company

Find Moreno Valley, California banks that specialize in SBA loans and know how to work with entrepreneurs. Bbva Bancomer Usa is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: METALWORKING MACHINERY
MURRIETA, CA 92562

SBA Loan Lender

BBVA BANCOMER USA
24010 SUNNYMEAD BLVD
MORENO VALLEY, CA 92553

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3549 - Metalworking Machinery

NAICS Code

333518 - Metalworking Machinery Manufacturing

Loan Approval Date

1/5/2000

Loan Approval Gross Amount

$106,500

Loan Approval from the SBA

Of the total $106,500 loan amount, the SBA guaranteed $79,875.

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 loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bbva Bancomer Usa and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Small Business Banks in Moreno Valley, California

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