Heritage Bank Of Commerce SBA Loan to Residential Care Company
Searching for a California small business loan? Here's one California business loan that was approved by the SBA.
This up and coming company knew how to go about getting a business bank loan. Based in San Carlos, California, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Heritage Bank Of Commerce, based in San Jose, California.
SBA Loan Borrower
COMPANY TYPE: RESIDENTIAL CARE
SAN CARLOS, CA 94070
SBA Loan Lender
HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113
This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a thorough understanding of SBA policies and procedures.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8361 - Residential Care
Loan Approval Date
5/1/2000
Loan Approval Gross Amount
$1,236,000
Loan Approval from the SBA
Of the total $1,236,000 loan amount, the SBA guaranteed $749,992.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 11 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
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.
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