Small Business Loans for Locksmiths

With these small business loans for locksmiths, the SBA guarantees the lender that the loan will be repaid. This locksmiths loan for $415,500 was given to a California entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Bank, out of Chula Vista, California. The loan was granted and they received $415,500 to help grow their San Diego, California business.

SBA Loan Borrower

COMPANY TYPE: LOCKSMITHS
SAN DIEGO, CA 92110

SBA Loan Lender

FIRST BANK
318 4TH AVE
CHULA VISTA, CA 91910

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

561622 - Locksmiths

Loan Approval Date

7/7/2004

Loan Approval Gross Amount

$415,500

Loan Approval from the SBA

Of the total $415,500 loan amount, the SBA guaranteed $311,625.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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