San Diego, California Business Gets SBA-Guaranteed Funding from Pacific Western Bank

An SBA loan from Pacific Western Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a San Diego, California business owner got a $651,500 loan.

This growing company knew how to go about getting a business bank loan. Based in San Diego, California, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Pacific Western Bank, based in Coronado, California.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
SAN DIEGO, CA 92121

SBA Loan Lender

PACIFIC WESTERN BANK
1190 ORANGE AVE
CORONADO, CA 92118

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.

NAICS Code

811192 - Car Washes

Loan Approval Date

7/10/2002

Loan Approval Gross Amount

$651,500

Loan Approval from the SBA

Of the total $651,500 loan amount, the SBA guaranteed $488,625.

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 10 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 25 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $651,500. How would you spend $651,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

VC Firms on Twitter

SBA 7A Banks in Coronado, California

Getting an SBA Loan in California