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April 18, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Heritage Bank Of Commerce San Jose Business Loans > Tire Dealers Loan | ||||
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How to Get SBA Loans in San Martin, California
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Where to Get Capital for Tire DealersWith these small business loans for tire dealers, the SBA guarantees the lender that the loan will be repaid. This tire dealers loan for $665,000 was given to a California entrepreneur in 2003. This company knew how to go about getting a business bank loan. Based in San Martin, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Heritage Bank Of Commerce, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: TIRE DEALERS SBA Loan Lender HERITAGE BANK OF COMMERCE 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 441320 - Tire Dealers Loan Approval Date 9/12/2003 Loan Approval Gross Amount $665,000 Loan Approval from the SBA Of the total $665,000 loan amount, the SBA guaranteed $498,750. 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 generate 2 new jobs and retain 3 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. This SBA loan was for $665,000. How would you spend $665,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best San Jose, California Banks for Small Business
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