Elk Grove, California Entrepreneur Gets a Bank Loan

Would a California bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Oregon bank, which offers SBA loans to California entrepreneurs.

By giving the right information to Umpqua Bank, this Elk Grove, California business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
Elk Grove, CA 95624

SBA Loan Lender

UMPQUA BANK
445 SE MAIN ST
ROSEBURG, OR 97470

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

5/21/2007

Loan Approval Gross Amount

$410,600

Loan Approval from the SBA

Of the total $410,600 loan amount, the SBA guaranteed $307,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the funding would help generate 455 new jobs.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $410,600. How would you spend $410,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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