Get an SBA Loan for Professional, Scientific, and Technical Services
With these small business loans for professional, scientific, and technical services, the SBA guarantees the lender that the loan will be repaid. This professional, scientific, and technical services loan for $500,000 was given to a California entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Whittier, California was able to borrow $500,000 from Professional Business Bank. The SBA made the loan possible by guaranteeing $375,000 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
WHITTIER, CA 90602
SBA Loan Lender
PROFESSIONAL BUSINESS BANK
199 S LOS ROBLES AVE, STE 130
PASADENA, CA 91101
This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541990 - Professional, Scientific, and Technical Services
Loan Approval Date
3/18/2003
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. This loan was not for a franchise. At the time of the loan, the company
had 16 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:
Obtaining Funding - How to Decide How Much to Raise
Who Lends Money to Small Businesses in Pasadena, California
Getting an SBA Loan in California