Fort Bragg, California Entrepreneur Gets a Bank Loan

Searching for a California small business loan? This California entrepreneur got a small business loan, provided by a California bank that works with the SBA to help small business owners.

This company, based in Fort Bragg, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Safe-Bidco. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FORT BRAGG, CA 95437

SBA Loan Lender

SAFE-BIDCO
1211 N. DUTTON AVE, SUITE D
SANTA ROSA, CA 95401

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/4/2003

Loan Approval Gross Amount

$61,000

Loan Approval from the SBA

Of the total $61,000 loan amount, the SBA guaranteed $51,850.

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 10 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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.

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