Borrego Springs, California Lender Lends Money to Flooring Contractors Company

Get to know Borrego Springs, California banks that specialize in business loans and know how to work with entrepreneurs. Borrego Springs Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in San Diego, California starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Borrego Springs Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FLOORING CONTRACTORS
SAN DIEGO, CA 92121

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238330 - Flooring Contractors

Loan Approval Date

12/29/2003

Loan Approval Gross Amount

$557,000

Loan Approval from the SBA

Of the total $557,000 loan amount, the SBA guaranteed $417,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 51 employees. The SBA loan documents indicated that the loan would help retain 51 existing jobs.

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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