Entrepreneur Works With Temecula, California Bank to Get an SBA Loan

Get to know Temecula, California banks that specialize in business loans and know how to work with entrepreneurs. Temecula Valley Bank is one such bank, as evidenced by this SBA loan to Kelly's Assisted Living Facili.

Finding a small business loan in Miami, Florida starts with an understanding of who else has gotten loans in the area. In this case, Kelly's Assisted Living Facili received funding from Temecula Valley Bank Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

KELLY'S ASSISTED LIVING FACILI
7615 SW 146TH COURT
MIAMI, FL 33183

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623110 - Nursing Care Facilities

Loan Approval Date

6/6/2002

Loan Approval Gross Amount

$302,000

Loan Approval from the SBA

Of the total $302,000 loan amount, the SBA guaranteed $226,500.

More Information on This SBA Loan

The borrower, Kelly's Assisted Living Facili, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 11/2/2006.

Next Steps for Getting an SBA Loan

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

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 SBA loan database.

Related Links:

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If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.