Local Business Gets a California Small Business Loan

CaliforniaBusiness loans are available to California business owners through the SBA. In this case, a California bank provides the loan.

Getting a small business loan in Bakersfield, California was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Pacific Cap. Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
BAKERSFIELD, CA 93305

SBA Loan Lender

PACIFIC CAP. BANK
1021 ANACAPA ST
SANTA BARBARA, CA 93101

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

311811 - Retail Bakeries

Loan Approval Date

9/22/2005

Loan Approval Gross Amount

$230,500

Loan Approval from the SBA

Of the total $230,500 loan amount, the SBA guaranteed $172,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Bakersfield CA, you ought to talk with a local Bakersfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bakersfield businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pacific Cap. Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

How to Raise Money

SBA Banks in Santa Barbara, California

SBA California Lenders