Entrepreneur Works With San Jose, California Bank to Get an SBA Loan
Get to know San Jose, California banks that specialize in SBA loans and know how to work with entrepreneurs. Heritage Bank Of Commerce is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Chico, California starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Heritage Bank Of Commerce. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: RESIDENTIAL CARE
CHICO, CA 95928
SBA Loan Lender
HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8361 - Residential Care
NAICS Code
623312 - Homes for the Elderly
Loan Approval Date
7/9/2004
Loan Approval Gross Amount
$751,500
Loan Approval from the SBA
Of the total $751,500 loan amount, the SBA guaranteed $563,625.
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 11 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
While you may be able to borrow money from friends and family, 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.
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