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

Get SBA loans from an Eureka, California bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Redwood Capital Bank is a Eureka, California small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a California company.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY MANUFACTURING FROM PURCHASED CHOCOLATE
FERNDALE, CA 95536

SBA Loan Lender

REDWOOD CAPITAL BANK
402 G ST
EUREKA, CA 95501

This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

NAICS Code

311330 - Confectionery Manufacturing from Purchased Chocolate

Loan Approval Date

12/14/2006

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 7 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Ferndale CA, you ought to talk with a local Ferndale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ferndale businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Redwood Capital Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Redwood Capital Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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