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May 1, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Diego, Business Loans > 1st Pacific Bank Of California San Diego Business Loans > Mortgage And Nonmortgage Loan Brokers Loan | ||||
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Best Banks That Lend to California Small Businesses
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California Bank Loan Issued to Mortgage And Nonmortgage Loan Brokers CompanyLooking to get a California business loan? This California entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners. Getting a small business loan in San Diego, California was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from 1st Pacific Bank Of California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS SBA Loan Lender 1ST PACIFIC BANK OF CALIFORNIA 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. NAICS Code 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 12/21/2006 Loan Approval Gross Amount $103,600 Loan Approval from the SBA Of the total $103,600 loan amount, the SBA guaranteed $88,060. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in San Diego CA, you ought to talk with a local San Diego SBA lender or talk with an out-of-area SBA lender that has previously loaned money to San Diego businesses. 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: Good Banks for Small Business in San Diego, California
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