Bank Of The Sierra SBA Loan to Specialty Trade Contractors Company

Bank Of The Sierra has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Bakersfield, California, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Bank Of The Sierra, based in Porterville, California.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
BAKERSFIELD, CA 93307

SBA Loan Lender

BANK OF THE SIERRA
86 N MAIN ST
PORTERVILLE, CA 93257

This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

10/23/2003

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 13 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 13 existing jobs.

Next Steps for Getting an SBA Loan

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 Bank Of The Sierra 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.

Related Links:

Microlending as a Small Business Funding Source

SBA Participating Banks in Porterville, California

Find an SBA Lender in California