Where to Get Capital for Grocery and Related Products Wholesalers

With these SBA loans for grocery and related products wholesalers, the SBA guarantees the lender that the loan will be repaid. This grocery and related products wholesalers loan for $84,000 was given to a California entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in San Bernardino, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Community Bank, based in Pasadena, California.

SBA Loan Borrower

COMPANY TYPE: GROCERY AND RELATED PRODUCTS WHOLESALERS
SAN BERNARDINO, CA 92404

SBA Loan Lender

COMMUNITY BANK
790 E COLORADO BLVD
PASADENA, CA 91101

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422490 - Grocery and Related Products Wholesalers

Loan Approval Date

1/2/2001

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $71,400.

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 3 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - Friends and Family

Who Lends Money to Small Businesses in Pasadena, California

Getting an SBA Loan in California