Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

How to Get SBA Loans in Vacaville, California

 

 
Loan Census SBA Loan Info

Raising Money for Full-Service Restaurants

Looking for business loans for full-service restaurants? The SBA may be the answer. This $265,000 full-service restaurants loan was issued by a California bank.

This business knew how to go about getting a business bank loan. Based in Vacaville, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Heritage Bank Of Commerce, based in San Jose, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
VACAVILLE, CA 95687

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

722110 - Full-Service Restaurants

Loan Approval Date

5/7/2002

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

If you want money for new small business in Vacaville CA, you ought to talk with a local Vacaville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Vacaville businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Heritage Bank Of Commerce and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

504 Loans

Small Bank Loans in San Jose, California

Browse All Business Loan Sources for California