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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Marcos, Business Loans > Discovery Bank San Marcos Business Loans > Excavation Contractors Loan | ||||
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Discovery Bank
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SBA Loan from Discovery Bank Helps Excavation Contractors CompanyAn SBA loan from Discovery 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 $50,000 loan. This small firm 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 2004. The lending bank was Discovery Bank, based in San Marcos, California. SBA Loan Borrower COMPANY TYPE: EXCAVATION CONTRACTORS SBA Loan Lender DISCOVERY BANK 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 235930 - Excavation Contractors Loan Approval Date 3/16/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 40 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 40 existing jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Discovery Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan Best San Marcos, California Banks for Small Business Getting an SBA Loan in California
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