San Jose, California Bank Lends Money to Commercial And Industrial Machinery And Equipment Company in Scotts Valley, California

Get to know San Jose, California banks that specialize in small business loans and know how to work with entrepreneurs. Heritage Bank Of Commerce is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Scotts Valley, California starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Heritage Bank Of Commerce. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
SCOTTS VALLEY, CA 95066

SBA Loan Lender

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

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

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

3/23/2001

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help create 4 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Scotts Valley CA, you ought to talk with a local Scotts Valley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Scotts Valley businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $350,000 loan. Remember, anyone can do it... so why not you?

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:

Microlending as a Small Business Funding Source

SBA Banks in San Jose, California

California SBA Bank Lenders