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May 2, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > San Diego, Business Loans > California Bank & Trust San Diego Business Loans > Satellite Telecommunications Loan | ||||
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Getting a Business Loan from California Bank & Trust
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SBA Loan from California Bank & Trust Helps Satellite Telecommunications CompanyAn SBA loan from California Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Reynoldsburg, Ohio business owner got a $100,000 loan. This growing company knew how to go about getting a business bank loan. Based in Reynoldsburg, Ohio, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was California Bank & Trust, based in San Diego, California. SBA Loan Borrower COMPANY TYPE: SATELLITE TELECOMMUNICATIONS SBA Loan Lender CALIFORNIA BANK & TRUST The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 517410 - Satellite Telecommunications Loan Approval Date 5/30/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 10 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like California Bank & Trust 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: Banking Deregulation's Effects on Entrepreneurship SBA Participating Banks in San Diego, California
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