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March 28, 2024  
 
 
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Small Business Banks for Riverside, California Business Owners

 

 
Loan Census SBA Loan Info

Schools and Instruction Bank Loans

Looking for bank loans for schools and instruction? An SBA loan may be just what you've been looking for. This $150,000 schools and instruction loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in Riverside, California, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Inland Commun Bank, based in Rialto, California.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND INSTRUCTION
Riverside, CA 92507

SBA Loan Lender

INLAND COMMUN BANK
255 S RIVERSIDE AVE
RIALTO, CA 92376

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

1/15/2008

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 11 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 11 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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:

Investor Turnoffs

SBA 7A Banks in Rialto, California

California SBA 7A Lenders