Entrepreneur Works With Bakersfield, California Bank to Get an SBA Loan

Want to talk with a Bakersfield, California bank about a small business loan? Here's one California business loan, issued by a Bakersfield bank, that was approved by the SBA.

Applying for an SBA loan with San Joaquin Bank worked out well for our friends at one local company in Delano, California. The business was able to get an SBA loan for $100,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: FARM LABOR CONTRACTORS AND CREW LEADERS
DELANO, CA 93215

SBA Loan Lender

SAN JOAQUIN BANK
4600 CALIFORNIA AVE
BAKERSFIELD, CA 93309

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0761 - Farm Labor Contractors and Crew Leaders

NAICS Code

115115 - Farm Labor Contractors and Crew Leaders

Loan Approval Date

4/18/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 310 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 San Joaquin Bank 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.

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