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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Rancho Cucamonga, Business Loans > Pff Bank & Trust Rancho Cucamonga Business Loans > Residential Mental Health And Substance Abuse Facilities Loan | ||||
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SBA Lender Rancho Cucamonga, California
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Rancho Cucamonga, California Bank Gives SBA Loan to Residential Mental Health And Substance Abuse Facilities CompanyThinking about meeting with a Rancho Cucamonga, California bank about an SBA loan? Here's one California business loan, issued by a Rancho Cucamonga bank, that was approved by the SBA. Applying for an SBA loan with Pff Bank & Trust worked out well for our friends at one local business in West Covina, California. They received an SBA loan for $250,000. Way to go! SBA Loan Borrower COMPANY TYPE: RESIDENTIAL MENTAL HEALTH AND SUBSTANCE ABUSE FACILITIES SBA Loan Lender PFF BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 623220 - Residential Mental Health and Substance Abuse Facilities Loan Approval Date 1/23/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 18 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pff Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks in Rancho Cucamonga, California
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