Entrepreneur Works With Fullerton, California Bank to Get an SBA Loan

Get to know Fullerton, California banks that specialize in SBA loans and know how to work with entrepreneurs. Commerce National Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
RANCHO SANTA MARGARITA, CA 92688

SBA Loan Lender

COMMERCE NATIONAL BANK
279 E ORANGETHORPE AVE
FULLERTON, CA 92832

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

12/4/2006

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours 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.

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