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April 29, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Diego, Business Loans > Neighborhood National Bank San Diego Business Loans > Supermarkets And Grocery Stores Loan | ||||
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Vista, California Bank for SBA Loans
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Supermarkets and Grocery Stores Bank LoansWith these bank loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $670,000 was given to a California entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vista, California was able to borrow $670,000 from Neighborhood National Bank. The SBA made the loan possible by guaranteeing $502,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender NEIGHBORHOOD NATIONAL 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 9/27/2005 Loan Approval Gross Amount $670,000 Loan Approval from the SBA Of the total $670,000 loan amount, the SBA guaranteed $502,500. 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 6 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Neighborhood National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Neighborhood National 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. Related Links: Obtaining Funding - How to Borrow Money Who Lends Money to Small Businesses in San Diego, California
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