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

Requirements for Small Business Owners On Getting a Loan

 

 
Loan Census SBA Loan Info

Financing for Commercial Bakeries

With these loans for commercial bakeries, the SBA guarantees the lender that the loan will be repaid. This commercial bakeries loan for $250,000 was given to a California entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pico Rivera, California was able to borrow $250,000 from Premier Comm. Bank. The SBA made the loan possible by guaranteeing $125,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL BAKERIES
PICO RIVERA, CA 90660

SBA Loan Lender

PREMIER COMM. BANK
2400 E KATELLA AVE, STE 125
ANAHEIM, CA 92806

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

311812 - Commercial Bakeries

Loan Approval Date

11/12/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to 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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Business Incubators

SBA Participating Banks in Anaheim, California

SBA California Banks