Lawyers Business Loans

With these business loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $213,000 was given to a California entrepreneur in 2001.

Getting a small business loan in Pasadena, California was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of City Of Industry, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
PASADENA, CA 91104

SBA Loan Lender

COMERICA BANK
13200 CROSSROADS PKWY NORTH,
CITY OF INDUSTRY, CA 91746

This SBA loan 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

541110 - Lawyers

Loan Approval Date

12/4/2001

Loan Approval Gross Amount

$213,000

Loan Approval from the SBA

Of the total $213,000 loan amount, the SBA guaranteed $159,750.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 Comerica Bank 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:

Accountant's Role in Securing Financing

SBA Participating Banks in City Of Industry, California

Find an SBA Lender in California