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March 29, 2024  
 
 
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California Small Business SBA Loans

 

 
Loan Census SBA Loan Info

Tustin, California Entrepreneur Gets a Bank Loan

Business loans in California are tough to come by these days. We take a look at one California business loan, provided by a California bank, that was approved by the SBA.

Getting a small business loan in Tustin, California was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Security Business Bank - San Diego. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
TUSTIN, CA 92780

SBA Loan Lender

SECURITY BUSINESS BANK - SAN DIEGO
701 B ST, STE 100
SAN DIEGO, CA 92101

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

11/1/2006

Loan Approval Gross Amount

$187,500

Loan Approval from the SBA

Of the total $187,500 loan amount, the SBA guaranteed $140,625.

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 5 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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