Business Loan from California Bank & Trust Given to Legal Services Company
California Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Beverly Hills, California was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from California Bank & Trust, operating out of Sacramento, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: LEGAL SERVICES
BEVERLY HILLS, CA 90210
SBA Loan Lender
CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833
This SBA 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
541199 - Legal Services
Loan Approval Date
9/19/2005
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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 California Bank & Trust 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:
Determining Proper Capital Structure for a Business
Good Banks for Small Business in Sacramento, California
Getting a Business Loan in California