Getting an SBA Loan for Residential Mental Retardation Facilities

Looking for business loans for residential mental retardation facilities? The SBA may be the answer. This $650,000 residential mental retardation facilities loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Pablo, California was able to borrow $650,000 from Heritage Bank Of Commerce. The SBA made the loan possible by guaranteeing $487,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL MENTAL RETARDATION FACILITIES
SAN PABLO, CA 94608

SBA Loan Lender

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

When this loan was made, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to provide fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623210 - Residential Mental Retardation Facilities

Loan Approval Date

5/25/2006

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

Related Links:

Direct Public Offerings

Small Bank Loans in San Jose, California

California SBA 7A Banks