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November 23, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Redlands, Business Loans > 1st Centennial Bank Redlands Business Loans > Full-Service Restaurants Loan | ||||
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California Small Business SBA Loans
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Local Business Gets a California SBA LoanCaliforniaBusiness loans are available to California business owners through the SBA. In this case, a California bank provides the loan. Getting a small business loan in San Bernardino, California was a top priority for this SBA-financed company back in 2004 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: FULL-SERVICE RESTAURANTS SBA Loan Lender 1ST CENTENNIAL BANK This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/23/2004 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $165,000. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from 1st Centennial Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - How to Decide How Much to Raise SBA 7A Banks for Redlands, California Loans
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