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

Morgan Hill, California Bank Loan

 

 
Loan Census SBA Loan Info

South Valley National Bank A Divis Gives Small Business Loan to Electrical Contractors And Wiring Installation Contractors Company

Would a California small business loan help your small business to grow and prosper? If so, you may want to talk with this California bank, which offers SBA loans to California entrepreneurs.

This business, based in Morgan Hill, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from South Valley National Bank A Divis. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
MORGAN HILL, CA 95037

SBA Loan Lender

SOUTH VALLEY NATIONAL BANK A DIVIS
8000 SANTA TERESA BLVD
GILROY, CA 95020

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

2/24/2005

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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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Best Gilroy, California Banks for Small Business

SBA Lenders in California