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November 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Diego, Business Loans > Neighborhood National Bank San Diego Business Loans > Eating Places Loan | ||||
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How to Get SBA Money in San Diego, California
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San Diego, California Entrepreneur Gets a Small Business LoanCaliforniaSmall business loans are available to California small business owners through the SBA. In this case, a California bank provides the loan. Getting a small business loan in San Diego, California was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Neighborhood National Bank. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NEIGHBORHOOD NATIONAL BANK This commercial loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/10/2001 Loan Approval Gross Amount $1,015,000 Loan Approval from the SBA Of the total $1,015,000 loan amount, the SBA guaranteed $761,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Neighborhood National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Neighborhood National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Banks for Small Business in San Diego, California
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