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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 > Lawyers Loan | ||||
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Banks Doing SBA Loans in California
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San Diego, California Bank Lends Money to Lawyers Company in San Diego, CaliforniaThinking about meeting with a San Diego, California bank about a small business loan? Here's one California business loan, issued by a San Diego bank, that was approved by the SBA. Applying for an SBA loan with 1st Pacific Bank Of California worked out well for our friends at one local company in San Diego, California. The business was able to get an SBA loan for $123,000. Nice! SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender 1ST PACIFIC BANK OF CALIFORNIA This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541110 - Lawyers Loan Approval Date 7/28/2006 Loan Approval Gross Amount $123,000 Loan Approval from the SBA Of the total $123,000 loan amount, the SBA guaranteed $104,550. 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 Participating Banks in San Diego, California Find an SBA Lender in California
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