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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Redlands, Business Loans > 1st Centennial Bank Redlands Business Loans > Footwear Loan | ||||
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Getting an SBA 7A Loan in Redlands, California
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Company Gets a California SBA LoanSBA loans in California are are few and far betweeen these days. We take a look at one California SBA loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Redlands, California was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from 1st Centennial Bank. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: FOOTWEAR SBA Loan Lender 1ST CENTENNIAL BANK 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. SIC Code 5139 - Footwear NAICS Code 422340 - Footwear Wholesalers Loan Approval Date 1/19/2000 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $67,500. 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 18 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 18 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Find an SBA Lender in Redlands, California
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