Palm Desert, California Business Gets SBA-Guaranteed Funding from Small Business Loan Source LLC

An SBA loan from Small Business Loan Source LLC 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 $1,100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palm Desert, California was able to borrow $1,100,000 from Small Business Loan Source LLC. The SBA made the loan possible by guaranteeing $748,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
PALM DESERT, CA 92211

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

1/10/2001

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $748,000.

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 12 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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.

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