Company Gets a California SBA Loan

Searching for a California SBA loan? This California entrepreneur got an SBA loan, provided by a California bank that works with the SBA to help small business owners.

This company, 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 Cupertino National Bank A Division. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
MORGAN HILL, CA 65037

SBA Loan Lender

CUPERTINO NATIONAL BANK A DIVISION
20230 STEVENS CREEK BLVD
CUPERTINO, CA 95014

This debt financing was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

541519 - Computer Related Services

Loan Approval Date

10/11/2001

Loan Approval Gross Amount

$660,000

Loan Approval from the SBA

Of the total $660,000 loan amount, the SBA guaranteed $495,000.

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 26 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cupertino National Bank A Division 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:

Business Incubators

Best Cupertino, California Banks for Small Business

Getting an SBA Loan in California