Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Examples of San Diego SBA Loans

 

 
Loan Census SBA Loan Info

Grocery and Related Products Merchant Wholesalers Loans

Looking for loans for grocery and related products merchant wholesalers? An SBA loan may be just what you've been looking for. This $1,665,000 grocery and related products merchant wholesalers loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Diego, California was able to borrow $1,665,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $1,248,750 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS
SAN DIEGO, CA 92154

SBA Loan Lender

WELLS FARGO BANK
5611 PALMER WAY, STE G
CARLSBAD, CA 92008

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

424490 - Grocery and Related Products Merchant Wholesalers

Loan Approval Date

9/14/2005

Loan Approval Gross Amount

$1,665,000

Loan Approval from the SBA

Of the total $1,665,000 loan amount, the SBA guaranteed $1,248,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $1,665,000. How would you spend $1,665,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Family and Friend Investors - Your First Financiers

SBA 7A Lenders in Carlsbad, California

SBA California Banks