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April 27, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sacramento, Business Loans > California Bank & Trust Sacramento Business Loans > Direct Selling Establishments Loan | ||||
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Best Banks That Lend to Menlo Park Business Owners
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Menlo Park, California Entrepreneur Gets an SBA LoanCaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, a California bank provides the loan. By giving the right information to California Bank & Trust, this Menlo Park, California business was able to get an SBA loan. To get this loan, the applying company 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: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender CALIFORNIA BANK & TRUST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 9/27/2005 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the loan would help generate 7 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. California Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, California Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 in Sacramento, California
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