Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Banks Doing SBA Loans in California

 

 
Loan Census SBA Loan Info

Cupertino, California Bank Lends Money to Racetracks Company in Burlingame, California

Want to talk with a Cupertino, California bank about a business loan? Here's one California business loan, issued by a Cupertino bank, that was approved by the SBA.

Applying for an SBA loan with Cupertino National Bank A Division worked out well for our friends at one local firm in Burlingame, California. They got an SBA loan for $475,000. Nice!

SBA Loan Borrower

COMPANY TYPE: RACETRACKS
BURLINGAME, CA 94010

SBA Loan Lender

CUPERTINO NATIONAL BANK A DIVISION
20230 STEVENS CREEK BLVD
CUPERTINO, CA 95014

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711212 - Racetracks

Loan Approval Date

8/28/2003

Loan Approval Gross Amount

$475,000

Loan Approval from the SBA

Of the total $475,000 loan amount, the SBA guaranteed $356,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Family and Friend Investors - Your First Financiers

Best Cupertino, California Banks for Small Business

Getting a Business Loan in California