SBA Loan from Community Bank Helps Automotive Body, Paint, And Interior Repair And Maintenance Company

An SBA loan from Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Palm Desert, California business owner got a $959,200 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palm Desert, California was able to borrow $959,200 from Community Bank. The SBA made the loan possible by guaranteeing $719,400 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
PALM DESERT, CA 92211

SBA Loan Lender

COMMUNITY BANK
790 E COLORADO BLVD
PASADENA, CA 91101

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

1/6/2005

Loan Approval Gross Amount

$959,200

Loan Approval from the SBA

Of the total $959,200 loan amount, the SBA guaranteed $719,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $959,200. How would you spend $959,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Business Cash Advances

SBA Approved Banks in Pasadena, California

SBA California Banks