Borrowing Money for Machine Shops

Looking for loans for machine shops? The SBA may be the answer. This $308,400 machine shops loan was issued by a California bank.

Getting a small business loan in San Diego, California was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from 1st Pacific Bank Of California, operating out of Solana Beach, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
SAN DIEGO, CA 92121

SBA Loan Lender

1ST PACIFIC BANK OF CALIFORNIA
937 LOMAS SANTA FE DR
SOLANA BEACH, CA 92075

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

332710 - Machine Shops

Loan Approval Date

9/7/2005

Loan Approval Gross Amount

$308,400

Loan Approval from the SBA

Of the total $308,400 loan amount, the SBA guaranteed $231,300.

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 11 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 11 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 1st Pacific Bank Of California 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:

Microlending as a Small Business Funding Source

Small Business Banks in Solana Beach, California

Getting an SBA Loan in California