San Diego, California Business Gets SBA-Guaranteed Funding from La Jolla Bank, Fsb

La Jolla Bank, Fsb is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with La Jolla Bank, Fsb, out of Escondido, California. The loan was granted and they received $738,000 to help grow their San Diego, California business.

SBA Loan Borrower

COMPANY TYPE: FRESH FRUIT AND VEGETABLE WHOLESALERS
SAN DIEGO, CA 92113

SBA Loan Lender

LA JOLLA BANK, FSB
128 N BROADWAY
ESCONDIDO, CA 92025

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422480 - Fresh Fruit and Vegetable Wholesalers

Loan Approval Date

10/4/2004

Loan Approval Gross Amount

$738,000

Loan Approval from the SBA

Of the total $738,000 loan amount, the SBA guaranteed $553,500.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Credit Evaluation

Banks in Escondido, California

California SBA 7A Lenders