Business Loan from Pacific Western Bank Given to Floor Covering Stores Company

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 $100,000 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 2000. The lending bank was Pacific Western Bank, based in San Diego, California.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
SAN DIEGO, CA 92111

SBA Loan Lender

PACIFIC WESTERN BANK
16495 BERNARDO CENTER DR
SAN DIEGO, CA 92128

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

8/11/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 6 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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