Business Loan from Heritage Bank Of Commerce Given to Gasoline Stations With Convenience Stores Company
An SBA loan from Heritage Bank Of Commerce typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Salinas, California business owner got a $1,950,000 loan.
This business knew how to go about getting a business bank loan. Based in Salinas, California, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Heritage Bank Of Commerce, based in San Jose, California.
SBA Loan Borrower
COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
SALINAS, CA 93901
SBA Loan Lender
HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
4/21/2004
Loan Approval Gross Amount
$1,950,000
Loan Approval from the SBA
Of the total $1,950,000 loan amount, the SBA guaranteed $1,462,500.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Heritage Bank Of Commerce had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Heritage Bank Of Commerce made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Microlending as a Small Business Funding Source
Banks in San Jose, California
California SBA 7A Banks