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April 23, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Hayward, Business Loans > Union Bank Of California Hayward Business Loans > Electrical Work Loan | ||||
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California Small Business Funding
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Business Loans for Electrical ContractorsLooking for business loans for electrical contractors? Try the SBA. This $250,000 electrical contractors loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South San Francisco, California was able to borrow $250,000 from Union Bank Of California. The SBA made the loan possible by guaranteeing $187,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL WORK SBA Loan Lender UNION BANK OF CALIFORNIA This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a deep knowledge SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1731 - Electrical Work NAICS Code 235310 - Electrical Contractors Loan Approval Date 2/15/2000 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 40 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find other ways to get money to start a business, 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: Who Lends Money to Small Businesses in Hayward, California
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