Borrowing Money for Lessors of Real Estate Property

With these loans for lessors of real estate property, the SBA guarantees the lender that the loan will be repaid. This lessors of real estate property loan for $500,000 was given to a California entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Westminster, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Bank, based in Creve Coeur, Missouri.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF REAL ESTATE PROPERTY
WESTMINSTER, CA 92683

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to offer fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531190 - Lessors of Real Estate Property

Loan Approval Date

2/11/2003

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours 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:

Attracting Investors

SBA Participating Banks in Creve Coeur, Missouri

Getting an SBA Loan in Missouri