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March 29, 2024  
 
 
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California Bank SBA Loans

 

 
Loan Census SBA Loan Info

Seacoast Commerce Bank SBA Loan to No Industry Type Specified Company

Searching for a California SBA loan? Here's one California business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in San Diego, California, they applied for and were given an SBA-guaranteed loan in 2007. The lending bank was Seacoast Commerce Bank, based in Chula Vista, California.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
SAN DIEGO, CA 92126

SBA Loan Lender

SEACOAST COMMERCE BANK
678 3RD AVE, STE 101
CHULA VISTA, CA 91910

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

541710 -

Loan Approval Date

3/29/2007

Loan Approval Gross Amount

$413,000

Loan Approval from the SBA

Of the total $413,000 loan amount, the SBA guaranteed $309,750.

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 2 employees. The loan application indicated that the funding would help generate 9 new jobs.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Seacoast Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Seacoast Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Best Banks for Small Business in Chula Vista, California

Getting a Business Loan in California