Borrego Springs Bank SBA Loan to Auto And Home Supply Stores Company

An SBA loan from Borrego Springs Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Madera, California business owner got a $283,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Madera, California was able to borrow $283,500 from Borrego Springs Bank. The SBA made the loan possible by guaranteeing $212,625 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
MADERA, CA 93637

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

4/11/2000

Loan Approval Gross Amount

$283,500

Loan Approval from the SBA

Of the total $283,500 loan amount, the SBA guaranteed $212,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Madera CA, you ought to talk with a local Madera SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Madera businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Borrego Springs Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Borrego Springs Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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