San Pedro, California Business Gets SBA-Guaranteed Funding from Bank - America California

An SBA loan from Bank - America California typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a San Pedro, California business owner got a $326,200 loan.

This growing company knew how to go about getting a business bank loan. Based in San Pedro, California, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank - America California, based in Rancho Cordova, California.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PHOTOGRAPHY
SAN PEDRO, CA 90731

SBA Loan Lender

BANK - AMERICA CALIFORNIA
10850 WHITE ROCK ROAD, STE 10
RANCHO CORDOVA, CA 95670

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.

SIC Code

7335 - Commercial Photography

Loan Approval Date

1/20/2000

Loan Approval Gross Amount

$326,200

Loan Approval from the SBA

Of the total $326,200 loan amount, the SBA guaranteed $244,650.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $326,200 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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