Borrowing Money for Residential Mental Retardation Facilities

Looking for small business loans for residential mental retardation facilities? Try the SBA. This $1,300,000 residential mental retardation facilities loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rancho Mirage, California was able to borrow $1,300,000 from National Bank Of California. The SBA made the loan possible by guaranteeing $975,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL MENTAL RETARDATION FACILITIES
RANCHO MIRAGE, CA 92270

SBA Loan Lender

NATIONAL BANK OF CALIFORNIA
145 S FAIRFAX AVE
LOS ANGELES, CA 90036

This SBA loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623210 - Residential Mental Retardation Facilities

Loan Approval Date

9/16/2003

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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