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May 1, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Sacramento, Business Loans > California Bank & Trust Sacramento Business Loans > Cafeterias, Grill Buffets, And Buffets Loan | ||||
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California Bank & Trust Small Business
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Miami, Florida Business Gets SBA-Guaranteed Funding from California Bank & TrustAn SBA loan from California Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Miami, Florida business owner got a $42,500 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $42,500 from California Bank & Trust. The SBA made the loan possible by guaranteeing $21,250 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: CAFETERIAS, GRILL BUFFETS, AND BUFFETS SBA Loan Lender CALIFORNIA BANK & TRUST 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. NAICS Code 722212 - Cafeterias, Grill Buffets, and Buffets Loan Approval Date 8/22/2003 Loan Approval Gross Amount $42,500 Loan Approval from the SBA Of the total $42,500 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like California Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Realistic Debt Financing Options Best Banks in Sacramento, California
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