Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

How to Get SBA Loans in Morgan Hill (morganhill), California

 

 
Loan Census SBA Loan Info

How to Get a Loan for Hobby, Toy, and Game Stores

Looking for commercial loans for hobby, toy, and game stores? Talk to a banker who works with the SBA. This $30,000 hobby, toy, and game stores loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Morgan Hill (morganhill), California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Pacific Cap. Bank, based in Santa Barbara, California.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
MORGAN HILL (MORGANHILL), CA 95037

SBA Loan Lender

PACIFIC CAP. BANK
1021 ANACAPA ST
SANTA BARBARA, CA 93101

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

6/7/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 22 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 24 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pacific Cap. Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

SBA 7A Lenders in Santa Barbara, California

Getting a Business Loan in California