Comerica Bank SBA Loan to Skilled Nursing Care Facilities Company

Comerica Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alameda, California was able to borrow $1,207,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $749,994 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SKILLED NURSING CARE FACILITIES
ALAMEDA, CA 94502

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program is designed to provide rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8051 - Skilled Nursing Care Facilities

Loan Approval Date

1/31/2000

Loan Approval Gross Amount

$1,207,000

Loan Approval from the SBA

Of the total $1,207,000 loan amount, the SBA guaranteed $749,994.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 60 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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