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May 6, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Automotive Repair Shops Loan | ||||
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California Bank SBA Loans
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Ft. Lauderdale, Florida Business Gets SBA-Guaranteed Funding from Temecula Valley BankTemecula Valley Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ft. Lauderdale, Florida was able to borrow $1,130,000 from Temecula Valley Bank. The SBA made the loan possible by guaranteeing $847,500 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS SBA Loan Lender TEMECULA VALLEY BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7539 - Automotive Repair Shops NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 9/30/2002 Loan Approval Gross Amount $1,130,000 Loan Approval from the SBA Of the total $1,130,000 loan amount, the SBA guaranteed $847,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 19 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Dealing With Venture Capitalists Small Bank Loans in Temecula, California
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