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April 18, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Cameron Park, Business Loans > Umpqua Bank Cameron Park Business Loans > Electrical Work Loan | ||||
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Cameron Park, California SBA Banks
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Entrepreneur Works With Cameron Park, California Bank to Get an SBA LoanWant to talk with a Cameron Park, California bank about a business loan? Here's one California business loan, issued by a Cameron Park bank, that was approved by the SBA. Applying for an SBA loan with Umpqua Bank worked out well for our friends at one local company in El Dorado, California. They got an SBA loan for $25,000. Nice! SBA Loan Borrower COMPANY TYPE: ELECTRICAL WORK SBA Loan Lender UMPQUA BANK 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 1731 - Electrical Work NAICS Code 235310 - Electrical Contractors Loan Approval Date 9/27/2000 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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 Umpqua Bank 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: Family and Friend Investors - Your First Financiers Best Cameron Park, California Banks for Small Business
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