Newport Beach, California Business Gets SBA-Guaranteed Funding from Business Lenders, LLC

Business Lenders, LLC 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 knew how to go about getting a business bank loan. Based in Newport Beach, California, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Business Lenders, LLC, based in Hartford, Connecticut.

SBA Loan Borrower

COMPANY TYPE: MEDICAL LABORATORIES
NEWPORT BEACH, CA 92660

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621511 - Medical Laboratories

Loan Approval Date

10/22/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 15 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Business Lenders, LLC had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Business Lenders, LLC made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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