Business Loan from Folsom Lake Bank Given to Store Retailers Company

Folsom Lake Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

Getting a small business loan in El Dorado Hills, California was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Folsom Lake Bank, operating out of Folsom, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
EL DORADO HILLS, CA 95762

SBA Loan Lender

FOLSOM LAKE BANK
905 SUTTER ST
FOLSOM, CA 95630

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

10/31/2007

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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:

Obtaining Funding - How to Decide How Much to Raise

SBA 7A Banks in Folsom, California

Getting a Business Loan in California