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May 1, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Beauty Shops Loan | ||||
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Bank Of The West SBA Loans
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SBA Loan from Bank Of The West Helps Beauty Shops CompanyBank Of The West is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of The West, out of Truckee, California. The loan was granted and they received $263,700 to help grow their Sacramento, California business. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender BANK OF THE WEST This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 11/7/2002 Loan Approval Gross Amount $263,700 Loan Approval from the SBA Of the total $263,700 loan amount, the SBA guaranteed $197,775. 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 2 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The West are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Realistic Debt Financing Options Who Lends Money to Small Businesses in Truckee, California
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