San Diego, California Business Gets SBA-Guaranteed Funding from American Continental Bank

An SBA loan from American Continental 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 $743,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with American Continental Bank, out of City Of Industry, California. The loan was granted and they received $743,000 to help grow their San Diego, California business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SAN DIEGO, CA 92101

SBA Loan Lender

AMERICAN CONTINENTAL BANK
17700 CASTLETON ST, STE 100
CITY OF INDUSTRY, CA 91748

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

722211 - Limited-Service Restaurants

Loan Approval Date

3/2/2007

Loan Approval Gross Amount

$743,000

Loan Approval from the SBA

Of the total $743,000 loan amount, the SBA guaranteed $557,250.

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 20 employees. The loan application indicated that the loan would help generate 1 new job and retain 21 existing jobs.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like American Continental Bank and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

SBA Participating Banks in City Of Industry, California

California SBA 7A Banks