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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Fairfield, Business Loans > Westamerica Bank Fairfield Business Loans > Specialized Local Freight Trucking Loan | ||||
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Fairfield, California SBA Lenders
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Fairfield, California Lender Lends Money to Specialized Local Freight Trucking CompanyWant to talk with a Fairfield, California bank about a business loan? Here's one California business loan, issued by a Fairfield bank, that was approved by the SBA. Applying for an SBA loan with Westamerica Bank worked out well for our friends at one local firm in Dos Palos, California. The business was able to get an SBA loan for $130,000. Great job! SBA Loan Borrower COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING SBA Loan Lender WESTAMERICA BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484220 - Specialized Local Freight Trucking Loan Approval Date 2/8/2001 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 5 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Accountant's Role in Securing Financing Small Bank Loans in Fairfield, California
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