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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Huntington Beach, Business Loans > First Bank Huntington Beach Business Loans > Florists Loan | ||||
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First Bank
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San Diego, California Business Gets SBA-Guaranteed Funding from First BankFirst Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First Bank, out of Huntington Beach, California. The loan was granted and they received $292,000 to help grow their San Diego, California business. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender FIRST BANK 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. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 8/28/2000 Loan Approval Gross Amount $292,000 Loan Approval from the SBA Of the total $292,000 loan amount, the SBA guaranteed $219,000. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business 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. Related Links: SBA 7A Lenders in Huntington Beach, California Browse All Business Loan Sources for California
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