Entrepreneur Works With Palo Alto, California Bank to Get an SBA Loan

Find Palo Alto, California banks that specialize in business loans and know how to work with entrepreneurs. Greater Bay Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Brooklyn, New York starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Greater Bay Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
BROOKLYN, NY 11220

SBA Loan Lender

GREATER BAY BANK
420 COWPER ST
PALO ALTO, CA 94301

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621210 - Dentists

Loan Approval Date

2/13/2008

Loan Approval Gross Amount

$460,300

Loan Approval from the SBA

Of the total $460,300 loan amount, the SBA guaranteed $345,225.

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 only one employee. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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