First Bank SBA Loan to Gasoline Stations With Convenience Stores Company

An SBA loan from First Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pomona, California business owner got a $990,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Pomona, California, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was First Bank, based in Chula Vista, California.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
POMONA, CA 91768

SBA Loan Lender

FIRST BANK
318 4TH AVE
CHULA VISTA, CA 91910

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

5/22/2002

Loan Approval Gross Amount

$990,000

Loan Approval from the SBA

Of the total $990,000 loan amount, the SBA guaranteed $742,500.

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 8 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Pomona CA, you ought to talk with a local Pomona SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pomona 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 First 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.

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