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May 7, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Francisco, Business Loans > Citibank San Francisco Business Loans > Computer Related Services Loan | ||||
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San Francisco, California SBA Lenders
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San Francisco, California Bank Gives SBA Loan to Computer Related Services CompanyThinking about meeting with a San Francisco, California bank about a small business loan? Here's one California business loan, issued by a San Francisco bank, that was approved by the SBA. Applying for an SBA loan with Citibank worked out well for our friends at one local company in Sunnyvale, California. The business was able to get an SBA loan for $50,000. Way to go! SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender CITIBANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 7379 - Computer Related Services NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 5/25/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citibank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Who Lends Money to Small Businesses in San Francisco, California
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