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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Tires And Tubes Loan | ||||
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Get an SBA Loan in El Dorado, California
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California Small Business Loan Issued to Tires And Tubes CompanyWant a California bank loan? This California entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners. By giving the right information to Bank Of The West, this El Dorado, California business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: TIRES AND TUBES SBA Loan Lender BANK OF THE WEST This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5014 - Tires and Tubes Loan Approval Date 2/3/2000 Loan Approval Gross Amount $121,000 Loan Approval from the SBA Of the total $121,000 loan amount, the SBA guaranteed $90,750. 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 4 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan If you want money for new small business in El Dorado CA, you ought to talk with a local El Dorado SBA lender or talk with an out-of-area SBA lender that has previously loaned money to El Dorado businesses. 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: Advice on Getting a Small Business Loan Best Banks for Small Business in Truckee, California
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