Salinas, California Business Gets SBA-Guaranteed Funding from Heritage Bank Of Commerce

An SBA loan from Heritage Bank Of Commerce typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Salinas, California business owner got a $625,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salinas, California was able to borrow $625,000 from Heritage Bank Of Commerce. The SBA made the loan possible by guaranteeing $468,750 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SALINAS, CA 93906

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/9/2006

Loan Approval Gross Amount

$625,000

Loan Approval from the SBA

Of the total $625,000 loan amount, the SBA guaranteed $468,750.

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. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Salinas CA, you ought to talk with a local Salinas SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Salinas businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Heritage Bank Of Commerce and they will explain how you can get an SBA loan for your company.

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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