Pompano Beach, Florida Business Gets SBA-Guaranteed Funding from Temecula Valley Bank

Temecula Valley Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Pompano Beach, Florida, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Temecula Valley Bank, based in Temecula, California.

SBA Loan Borrower

COMPANY TYPE: CONTINUING CARE RETIREMENT COMMUNITIES
POMPANO BEACH, FL 33060

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

This 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

623311 - Continuing Care Retirement Communities

Loan Approval Date

1/30/2006

Loan Approval Gross Amount

$834,000

Loan Approval from the SBA

Of the total $834,000 loan amount, the SBA guaranteed $625,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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