Borrowing Money for Grocery and Related Products Merchant Wholesalers

With these bank loans for grocery and related products merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This grocery and related products merchant wholesalers loan for $2,000,000 was given to a California entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Rafael, California was able to borrow $2,000,000 from City National Bank. The SBA made the loan possible by guaranteeing $600,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS
SAN RAFAEL, CA 94903

SBA Loan Lender

CITY NATIONAL BANK
606 S OLIVE ST
LOS ANGELES, CA 90014

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

424490 - Grocery and Related Products Merchant Wholesalers

Loan Approval Date

7/27/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $600,000.

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 14 employees. The loan application indicated that the loan would help retain 14 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like City National Bank 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.

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