Growing Company Gets a California Business Loan

Bank loans in California are tough to come by these days. We take a look at one California bank loan, provided by a California bank, that was approved by the SBA.

This company, based in Corcoran, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Spectrum Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
CORCORAN, CA 93212

SBA Loan Lender

SPECTRUM BANK
15615 ALTON PKWY
IRVINE, CA 92618

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

10/6/2004

Loan Approval Gross Amount

$255,800

Loan Approval from the SBA

Of the total $255,800 loan amount, the SBA guaranteed $191,850.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Corcoran CA, you ought to talk with a local Corcoran SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Corcoran businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $255,800 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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