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May 18, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Professional, Scientific, And Technical Services Loan | ||||
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Tips for Small Businesses On Getting a Loan
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Financing for Professional, Scientific, and Technical ServicesLooking for loans for professional, scientific, and technical services? Try the SBA. This $624,400 professional, scientific, and technical services loan was issued by a California bank. This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Temecula Valley Bank, out of Temecula, California. The loan was granted and they received $624,400 to help grow their Reno, Nevada business. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES SBA Loan Lender TEMECULA VALLEY BANK 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 541990 - Professional, Scientific, and Technical Services Loan Approval Date 1/13/2006 Loan Approval Gross Amount $624,400 Loan Approval from the SBA Of the total $624,400 loan amount, the SBA guaranteed $468,300. More Information on This SBA Loan The borrower borrowed this money for an existing 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 21 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 21 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Banks in Temecula, California
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