Company Gets a California Business Loan
SBA loans in California are are few and far betweeen these days. We take a look at one California SBA loan, provided by a California bank, that was approved by the SBA.
Getting a small business loan in Bakersfield, California was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Heritage Bank Of Commerce. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPPORT ACTIVITIES FOR TRANSPORTATION
BAKERSFIELD, CA 93307
SBA Loan Lender
HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
488999 - Support Activities for Transportation
Loan Approval Date
10/3/2003
Loan Approval Gross Amount
$412,800
Loan Approval from the SBA
Of the total $412,800 loan amount, the SBA guaranteed $309,600.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.
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.
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 $412,800 loan. Remember, feel the fear, and do it anyway.
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:
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Getting an SBA Loan in California