First Bank SBA Loan to No Industry Type Specified Company
Looking to get a California business loan? Here's one California business loan that was approved by the SBA.
This up and coming company knew how to go about getting a business bank loan. Based in Burbank, California, they applied for and were given an SBA-guaranteed loan in 2003. The lending bank was First Bank, based in Creve Coeur, Missouri.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
BURBANK, CA 91501
SBA Loan Lender
FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
421390 -
Loan Approval Date
6/23/2003
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 6 employees. The loan application did not indicate that the business promised to use the money 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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First 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:
Alternative Financing
SBA 7A Lenders in Creve Coeur, Missouri
SBA Lenders in Missouri