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March 28, 2024  
 
 
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Getting an SBA Loan in Foothill Ranch, California

 

 
Loan Census SBA Loan Info

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:

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SBA Approved Banks in Newport Beach, California

California SBA Bank Lenders