Whittier, California Entrepreneur Gets a Bank Loan

SBA loans in California are are few and far betweeen these days. We take a look at one California SBA loan, provided by a California bank, that was approved by the SBA.

By giving the right information to Premier Comm. Bank, this Whittier, California business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
WHITTIER, CA 90601

SBA Loan Lender

PREMIER COMM. BANK
2400 E KATELLA AVE, STE 125
ANAHEIM, CA 92806

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/18/2008

Loan Approval Gross Amount

$745,500

Loan Approval from the SBA

Of the total $745,500 loan amount, the SBA guaranteed $559,125.

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 indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Premier Comm. Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Realistic Debt Financing Options

Best Banks for Small Business in Anaheim, California

California SBA 7A Lenders