Local Business Gets a California Bank Loan
Want 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 Foothill Ranch, 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 Commercewest Bank. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS
FOOTHILL RANCH, CA 92610
SBA Loan Lender
COMMERCEWEST BANK
4685 MACARTHUR CT, STE 100
NEWPORT BEACH, CA 92660
The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers
Loan Approval Date
7/14/2006
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $150,000.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the funding would help generate 5 new jobs.
Next Steps for Getting an SBA Loan
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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Commercewest Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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 Decide How Much to Raise
SBA Approved Banks in Newport Beach, California
California SBA Bank Lenders