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April 26, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Rancho Santa Margarit, Business Loans > South Cnty Bank Rancho Santa Margarit Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Banks for Entrepreneurs in California
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South Cnty Bank Gives Business Loan to Fitness And Recreational Sports Centers CompanyCaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, a California bank provides the loan. This small business, based in Laguna Beach, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from South Cnty Bank. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender SOUTH CNTY BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 4/22/2004 Loan Approval Gross Amount $164,100 Loan Approval from the SBA Of the total $164,100 loan amount, the SBA guaranteed $123,075. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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. Related Links: SBA Participating Banks in Rancho Santa Margarit, California Browse All Business Loan Sources for California
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