Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

SBA Lender Chula Vista

 

 
Loan Census SBA Loan Info

Chula Vista, California Lender Lends Money to Used Car Dealers Company

Find Chula Vista, California banks that specialize in small business loans and know how to work with entrepreneurs. First Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Chula Vista, California starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from First Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
CHULA VISTA, CA 91910

SBA Loan Lender

FIRST BANK
318 4TH AVE
CHULA VISTA, CA 91910

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

7/8/2005

Loan Approval Gross Amount

$670,500

Loan Approval from the SBA

Of the total $670,500 loan amount, the SBA guaranteed $502,875.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

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Who Lends Money to Small Businesses in Chula Vista, California

California SBA Bank Lenders