Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

California Small Business Funding

 

 
Loan Census SBA Loan Info

Loans for Telecommunications

With these loans for telecommunications, the SBA guarantees the lender that the loan will be repaid. This telecommunications loan for $400,000 was given to a California entrepreneur in 2001.

Getting a small business loan in Lincoln, California was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Auburn, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: TELECOMMUNICATIONS
LINCOLN, CA 95648

SBA Loan Lender

WELLS FARGO BANK
649 LINCOLN WAY
AUBURN, CA 95603

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

513390 - Telecommunications

Loan Approval Date

10/12/2001

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Lincoln or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

The Friends and Family Network

Small Bank Loans in Auburn, California

California SBA 7A Lenders