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May 2, 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 > Furniture Stores Loan | ||||
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Banks Doing SBA Loans in California
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San Francisco, California Bank Gives SBA Loan to Furniture Stores CompanyWant to talk with a San Francisco, California bank about a business loan? Here's one California business loan, issued by a San Francisco bank, that was approved by the SBA. Applying for an SBA loan with Union Bank Of California worked out well for our friends at one local company in Encinitas, California. The business was able to get an SBA loan for $40,000. Sweet! SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender UNION BANK OF CALIFORNIA The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 442110 - Furniture Stores Loan Approval Date 6/29/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $40,000 loan. Remember, where there is a will, there is a way! 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: Realistic Debt Financing Options Good Banks for Small Business in San Francisco, California Getting a Business Loan in California
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