SBA Loan from Metropacific Bank Helps Computer Related Services Company

Metropacific Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Upland, California was able to borrow $1,582,000 from Metropacific Bank. The SBA made the loan possible by guaranteeing $1,186,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
Upland, CA 91786

SBA Loan Lender

METROPACIFIC BANK
18831 VON KARMAN AVE, STE 101
IRVINE, CA 92612

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

541519 - Computer Related Services

Loan Approval Date

2/21/2008

Loan Approval Gross Amount

$1,582,000

Loan Approval from the SBA

Of the total $1,582,000 loan amount, the SBA guaranteed $1,186,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. The SBA loan documents indicated that the loan would help retain 13 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Metropacific Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

SBIR Funding

Small Business Banks in Irvine, California

California SBA 7A Lenders