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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Diego, Business Loans > Security Business Bank - San Diego San Diego Business Loans > Computer Systems Design Services Loan | ||||
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California Small Business SBA Loans
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Tustin, California Entrepreneur Gets a Bank LoanBusiness loans in California are tough to come by these days. We take a look at one California business loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Tustin, California was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Security Business Bank - San Diego. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES SBA Loan Lender SECURITY BUSINESS BANK - SAN DIEGO This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 11/1/2006 Loan Approval Gross Amount $187,500 Loan Approval from the SBA Of the total $187,500 loan amount, the SBA guaranteed $140,625. 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 5 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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. Related Links: Best San Diego, California Banks for Small Business
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