El Dorado Hills, California Business Gets SBA-Guaranteed Funding from First Community Cu

An SBA loan from First Community Cu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an El Dorado Hills, California business owner got a $75,000 loan.

This small firm knew how to go about getting a business bank loan. Based in El Dorado Hills, California, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was First Community Cu, based in Jamestown, North Dakota.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
EL DORADO HILLS, CA 95762

SBA Loan Lender

FIRST COMMUNITY CU
111 SW 9TH ST
JAMESTOWN, ND 58401

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/14/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 6 employees. This SBA loan request indicated that the loan would help create 2 new jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 First Community Cu 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.

Related Links:

SBIR Funding

Best Banks for Small Business in Jamestown, North Dakota

SBA Participating Banks in North Dakota