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April 16, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Irvine, Business Loans > Spectrum Bank Irvine Business Loans > Personal Services Loan | ||||
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California SBA Banks
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Irvine, California Bank Gives SBA Loan to Personal Services CompanyThinking about meeting with an Irvine, California bank about a business loan? Here's one California business loan, issued by an Irvine bank, that was approved by the SBA. Applying for an SBA loan with Spectrum Bank worked out well for our friends at one local business in Hermose Beach, California. They got an SBA loan for $285,000. Sweet! SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender SPECTRUM BANK This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812990 - Personal Services Loan Approval Date 11/19/2004 Loan Approval Gross Amount $285,000 Loan Approval from the SBA Of the total $285,000 loan amount, the SBA guaranteed $213,750. 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 SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Spectrum Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Getting a Business Loan in California
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