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April 25, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Sacramento, Business Loans > Comerica Bank Sacramento Business Loans > Grocery Stores Loan | ||||
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California SBA Banks
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Sacramento, California Bank Lends Money to Grocery Stores Company in Oak Creek, WisconsinGet to know Sacramento, California banks that specialize in small business loans and know how to work with entrepreneurs. Comerica Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Oak Creek, Wisconsin starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Comerica Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender COMERICA BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 445120 - Convenience Stores Loan Approval Date 12/4/2003 Loan Approval Gross Amount $357,000 Loan Approval from the SBA Of the total $357,000 loan amount, the SBA guaranteed $267,750. 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 2 employees. The SBA loan documents did not indicate that the business planned to use the money to add 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Banks in Sacramento, California
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