San Diego, California Business Gets SBA-Guaranteed Funding from La Jolla Bank, Fsb

La Jolla Bank, Fsb 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.

Getting a small business loan in San Diego, California was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from La Jolla Bank, Fsb, operating out of Escondido, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS
SAN DIEGO, CA 92123

SBA Loan Lender

LA JOLLA BANK, FSB
128 N BROADWAY
ESCONDIDO, CA 92025

At the time this loan was granted, the lender was part of the SBA's Certified Lenders Program (CLP). This program aims to ensure quick 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

7532 - Top and Body Repair and Paint Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

4/8/2003

Loan Approval Gross Amount

$792,000

Loan Approval from the SBA

Of the total $792,000 loan amount, the SBA guaranteed $594,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 19 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Getting a Small Business Loan

SBA 7A Banks for Escondido, California Loans

SBA Lenders in California