Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

El Centro, California Bank for SBA Loans

 

 
Loan Census SBA Loan Info

El Centro, California Entrepreneur Gets a Bank Loan

Want a California SBA loan? This California entrepreneur got an SBA loan, provided by a California bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in El Centro, California by studying this loan to a local business, made back in 2004. Banks like First Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
EL CENTRO, CA 92243

SBA Loan Lender

FIRST BANK
318 4TH AVE
CHULA VISTA, CA 91910

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

621210 - Dentists

Loan Approval Date

5/14/2004

Loan Approval Gross Amount

$647,000

Loan Approval from the SBA

Of the total $647,000 loan amount, the SBA guaranteed $485,250.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

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.

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