California Small Business Loan Issued to Child Day Care Services Company

SBA loans in California are tough to come by 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 Berkeley, California was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Innovative Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
BERKELEY, CA 94705

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

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

624410 - Child Day Care Services

Loan Approval Date

9/27/2002

Loan Approval Gross Amount

$1,353,000

Loan Approval from the SBA

Of the total $1,353,000 loan amount, the SBA guaranteed $999,867.

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 25 employees. The SBA loan application for the borrower indicated that the loan would help retain 25 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $1,353,000 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:

A Company That Helps Entrepreneurs

Find an SBA Lender in Oakland, California

Getting an SBA Loan in California