Technical and Trade Schools Commercial Loans

Looking for commercial loans for technical and trade schools? Try the SBA. This $75,000 technical and trade schools loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Diego, California was able to borrow $75,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $60,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: VOCATIONAL SCHOOLS
SAN DIEGO, CA 92101

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
7733 GIRARD AVE
LA JOLLA, CA 92037

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8249 - Vocational Schools

NAICS Code

611519 - Technical and Trade Schools

Loan Approval Date

2/3/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

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 only one employee. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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