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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sacramento, Business Loans > California Bank & Trust Sacramento Business Loans > Construction, Mining, And Forestry Machinery Equipment Rental And Leasing Loan | ||||
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California Bank & Trust SBA 7A Loans
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Construction, Mining, and Forestry Machinery Equipment Rental and Leasing SBA LoansWith these SBA loans for construction, mining, and forestry machinery equipment rental and leasing, the SBA guarantees the lender that the loan will be repaid. This construction, mining, and forestry machinery equipment rental and leasing loan for $400,000 was given to a California entrepreneur in 2001. This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with California Bank & Trust, out of Sacramento, California. The loan was granted and they received $400,000 to help grow their Bakersfield, California business. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION, MINING, AND FORESTRY MACHINERY EQUIPMENT RENTAL AND LEASING SBA Loan Lender CALIFORNIA BANK & TRUST 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 532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing Loan Approval Date 5/30/2001 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 9 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 9 existing jobs. Getting an SBA Loan For Your Business 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 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: Small Bank Loans in Sacramento, California SBA Participating Banks in California
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