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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Diego, Business Loans > 1st Pacific Bank Of California San Diego Business Loans > General Long-Distance Freight Trucking Loan | ||||
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SBA Lender San Diego California
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General Long-Distance Freight Trucking Commercial LoansLooking for commercial loans for general long-distance freight trucking? Try the SBA. This $207,000 general long-distance freight trucking loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Diego, California was able to borrow $207,000 from 1st Pacific Bank Of California. The SBA made the loan possible by guaranteeing $155,250 of this California small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender 1ST PACIFIC BANK OF CALIFORNIA 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 484121 - General Long-Distance Freight Trucking Loan Approval Date 10/29/2007 Loan Approval Gross Amount $207,000 Loan Approval from the SBA Of the total $207,000 loan amount, the SBA guaranteed $155,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 23 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 23 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Lenders in San Diego, California
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