Commercial Loans for Individual and Family Services

Looking for commercial loans for individual and family services? An SBA loan may be just what you've been looking for. This $575,100 individual and family services loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Phoenix, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Borrego Springs Bank, based in Borrego Springs, California.

SBA Loan Borrower

COMPANY TYPE: INDIVIDUAL AND FAMILY SERVICES
PHOENIX, AZ 85006

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624190 - Individual and Family Services

Loan Approval Date

1/18/2005

Loan Approval Gross Amount

$575,100

Loan Approval from the SBA

Of the total $575,100 loan amount, the SBA guaranteed $431,325.

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 27 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 27 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Borrego Springs Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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