SBA Loan from Borrego Springs Bank Helps Direct Selling Establishments Company

Borrego Springs Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in San Clemente, California, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Borrego Springs Bank, based in Borrego Springs, California.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
San Clemente, CA 92673

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

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

454390 - Direct Selling Establishments

Loan Approval Date

10/29/2007

Loan Approval Gross Amount

$423,000

Loan Approval from the SBA

Of the total $423,000 loan amount, the SBA guaranteed $317,250.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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