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April 18, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Ontario, Business Loans > Citizens Business Bank Ontario Business Loans > Repair Shops And Related Services Loan | ||||
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Citizens Business Bank Business Loan
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Business Loan from Citizens Business Bank Given to Repair Shops And Related Services CompanyCitizens Business 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 California entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Riverside, California was able to borrow $202,082 from Citizens Business Bank. The SBA made the loan possible by guaranteeing $151,562 of this California small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender CITIZENS BUSINESS BANK This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a deep knowledge SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services Loan Approval Date 7/25/2000 Loan Approval Gross Amount $202,082 Loan Approval from the SBA Of the total $202,082 loan amount, the SBA guaranteed $151,562. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citizens Business Bank and they will explain how you can get an SBA loan for your company. 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: A Company That Helps Entrepreneurs SBA Participating Banks in Ontario, California Find an SBA Lender in California
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