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May 1, 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 > Flooring Contractors Loan | ||||
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Lakeside, California Bank for SBA Loans
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Firm Gets a California Small Business LoanCaliforniaSmall business loans are available to California small business owners through the SBA. In this case, a California bank provides the loan. Getting a small business loan in Lakeside, California was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Union Bank Of California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: FLOORING CONTRACTORS SBA Loan Lender UNION BANK OF CALIFORNIA The lender provided this business 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 238330 - Flooring Contractors Loan Approval Date 8/9/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 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 Although it's called an SBA loan, you 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 Banks for Small Business in San Francisco, California
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