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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Irvine, Business Loans > Spectrum Bank Irvine Business Loans > Electronic Shopping Loan | ||||
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SBA Lenders in California
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SBA Loan from Spectrum Bank Helps Electronic Shopping CompanySpectrum Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Orange, California, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Spectrum Bank, based in Irvine, California. SBA Loan Borrower COMPANY TYPE: ELECTRONIC SHOPPING SBA Loan Lender SPECTRUM BANK This SBA business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a deep knowledge SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454111 - Electronic Shopping Loan Approval Date 5/19/2005 Loan Approval Gross Amount $160,000 Loan Approval from the SBA Of the total $160,000 loan amount, the SBA guaranteed $120,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Find an SBA Lender in Irvine, California
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