Concord, California Business Gets SBA-Guaranteed Funding from Comerica Bank

Comerica Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Concord, California, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Comerica Bank, based in Santa Cruz, California.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
CONCORD, CA 94520

SBA Loan Lender

COMERICA BANK
25 RIVER ST
SANTA CRUZ, CA 95060

This SBA bank loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

1/23/2002

Loan Approval Gross Amount

$189,500

Loan Approval from the SBA

Of the total $189,500 loan amount, the SBA guaranteed $142,125.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Concord CA, you ought to talk with a local Concord SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Concord businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.

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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