Chula Vista, California Lender Lends Money to Sports And Recreation Instruction Company

Get to know Chula Vista, California banks that specialize in small business loans and know how to work with entrepreneurs. First Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in San Diego, California starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
SAN DIEGO, CA 92111

SBA Loan Lender

FIRST BANK
318 4TH AVE
CHULA VISTA, CA 91910

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

9/3/2003

Loan Approval Gross Amount

$73,000

Loan Approval from the SBA

Of the total $73,000 loan amount, the SBA guaranteed $62,050.

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 only one employee. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Advice on Getting a Small Business Loan

Small Business Banks in Chula Vista, California

SBA California Banks