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April 19, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > Insurance Agencies And Brokerages Loan | ||||
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Banks Doing SBA Loans in California
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Entrepreneur Works With San Francisco, California Bank to Get an SBA LoanFind San Francisco, California banks that specialize in business loans and know how to work with entrepreneurs. Bank Of The West is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Englewood, Colorado starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Bank Of The West. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender BANK OF THE WEST As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 12/4/2002 Loan Approval Gross Amount $495,000 Loan Approval from the SBA Of the total $495,000 loan amount, the SBA guaranteed $371,250. 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 13 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 13 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: A Company That Helps Entrepreneurs SBA 7A Banks for San Francisco, California Loans
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