Local Business Gets a California Small Business Loan

Business loans in California are are few and far betweeen these days. We take a look at one California business loan, provided by a North Carolina bank, that was approved by the SBA.

This small business, based in San Diego, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SAN DIEGO, CA 92126

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

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

5812 - Eating Places

Loan Approval Date

9/7/2000

Loan Approval Gross Amount

$210,600

Loan Approval from the SBA

Of the total $210,600 loan amount, the SBA guaranteed $157,950.

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 85 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 85 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in San Diego or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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