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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Marcos, Business Loans > First National Bank - Southern Calif San Marcos Business Loans > Used Car Dealers Loan | ||||
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First National Bank - Southern Calif Rancho Santa Fe, California
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Rancho Santa Fe, California Business Gets SBA-Guaranteed Funding from First National Bank - Southern CalifFirst National Bank - Southern Calif is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rancho Santa Fe, California was able to borrow $1,037,000 from First National Bank - Southern Calif. The SBA made the loan possible by guaranteeing $777,750 of this California small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender FIRST NATIONAL BANK - SOUTHERN CALIF As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441120 - Used Car Dealers Loan Approval Date 8/12/2005 Loan Approval Gross Amount $1,037,000 Loan Approval from the SBA Of the total $1,037,000 loan amount, the SBA guaranteed $777,750. 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 15 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank - Southern Calif had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank - Southern Calif made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Participating Banks in San Marcos, California
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