Chula Vista, California Bank Lends Money to Top And Body Repair And Paint Shops Company in Chula Vista, California
Find Chula Vista, California banks that specialize in SBA loans and know how to work with entrepreneurs. First Bank is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Chula Vista, California starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS
CHULA VISTA, CA 91910
SBA Loan Lender
FIRST BANK
318 4TH AVE
CHULA VISTA, CA 91910
At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7532 - Top and Body Repair and Paint Shops
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
11/13/2000
Loan Approval Gross Amount
$519,000
Loan Approval from the SBA
Of the total $519,000 loan amount, the SBA guaranteed $389,250.
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 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, you 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.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $519,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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