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

An SBA loan from First 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 $898,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Diego, California was able to borrow $898,000 from First Bank. The SBA made the loan possible by guaranteeing $673,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES
SAN DIEGO, CA 92101

SBA Loan Lender

FIRST BANK
16900 GOLDENWEST ST
HUNTINGTON BEACH, CA 92647

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.

SIC Code

8999 - Services

Loan Approval Date

6/29/2000

Loan Approval Gross Amount

$898,000

Loan Approval from the SBA

Of the total $898,000 loan amount, the SBA guaranteed $673,500.

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 20 employees. This SBA loan request indicated that the loan would help retain 20 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

The Friends and Family Network

Small Business Banks in Huntington Beach, California

SBA California Banks