Local Business Gets a California Bank Loan
Business loans in California are hard to find these days. We take a look at one California business loan, provided by a California bank, that was approved by the SBA.
You can learn something about getting a small business loan in San Diego, California by studying this loan to a local business, made back in 2004. Banks like Neighborhood National Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
SAN DIEGO, CA 92104
SBA Loan Lender
NEIGHBORHOOD NATIONAL BANK
3511 NATIONAL AVE
SAN DIEGO, CA 92113
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
812310 - Coin-Operated Laundries and Drycleaners
Loan Approval Date
12/23/2004
Loan Approval Gross Amount
$233,000
Loan Approval from the SBA
Of the total $233,000 loan amount, the SBA guaranteed $174,750.
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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.
Next Steps for Getting an SBA Loan
If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
Understanding Dilution
Good Banks for Small Business in San Diego, California
Getting an SBA Loan in California