Firm Gets a California SBA Loan
CaliforniaSmall business loans are available to California small business owners through the SBA. In this case, a California bank provides the loan.
Getting a small business loan in Temecula, California was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Borrego Springs Bank. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: FOOD SUPPLEMENT STORES
TEMECULA, CA 92591
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
446191 - Food Supplement Stores
Loan Approval Date
8/10/2001
Loan Approval Gross Amount
$500,000
Loan Approval from the SBA
Of the total $500,000 loan amount, the SBA guaranteed $375,000.
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 22 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 27 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Business Cash Advances
Good Banks for Small Business in Borrego Springs, California
SBA Participating Banks in California