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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Oakland, Business Loans > Summit Bank Oakland Business Loans > Piece Goods, Notions, And Dry Goods Merchant Wholesalers Loan | ||||
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Piece Goods, Notions, and Dry Goods Merchant Wholesalers Business LoansLooking for business loans for piece goods, notions, and dry goods merchant wholesalers? The SBA may be the answer. This $500,000 piece goods, notions, and dry goods merchant wholesalers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Rosa, California was able to borrow $500,000 from Summit Bank. The SBA made the loan possible by guaranteeing $375,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PIECE GOODS, NOTIONS, AND DRY GOODS MERCHANT WHOLESALERS SBA Loan Lender SUMMIT BANK This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424310 - Piece Goods, Notions, and Dry Goods Merchant Wholesalers Loan Approval Date 7/25/2005 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 15 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Summit Bank 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: Obtaining Funding - How to Decide How Much to Raise Best Banks for Small Business in Oakland, California
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