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December 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sacramento, Business Loans > California Bank & Trust Sacramento Business Loans > Drycleaning And Laundry Services Loan | ||||
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Get an SBA 7A Loan in Berkeley, California
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Berkeley, California Entrepreneur Gets an SBA LoanSBA loans in California are are few and far betweeen these days. We take a look at one California SBA loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Berkeley, California was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from California Bank & Trust. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender CALIFORNIA BANK & TRUST This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 812320 - Drycleaning and Laundry Services Loan Approval Date 5/8/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. California Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, California Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Advice on Getting a Small Business Loan Where to Get an SBA Loan in Sacramento, California
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