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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Francisco, Business Loans > Union Bank Of California San Francisco Business Loans > Masonry Contractors Loan | ||||
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California SBA 7A Lenders
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San Francisco, California Bank Lends Money to Masonry Contractors Company in El Cajon, CaliforniaFind San Francisco, California banks that specialize in SBA loans and know how to work with entrepreneurs. Union Bank Of California is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in El Cajon, California starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Union Bank Of California. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: MASONRY CONTRACTORS SBA Loan Lender UNION BANK OF CALIFORNIA This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 238140 - Masonry Contractors Loan Approval Date 6/3/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Union Bank Of California and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best San Francisco, California Banks for Small Business
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