California Bank Loan Issued to Direct Selling Establishments Company

Small business loans in California are are few and far betweeen these days. We take a look at one California small business loan, provided by a Missouri bank, that was approved by the SBA.

Getting a small business loan in Fresno, California was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Ge Cap. Small Business Finan Corp. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
FRESNO, CA 93722

SBA Loan Lender

GE CAP. SMALL BUSINESS FINAN CORP
635 MARYVILLE CENTRE DR, STE
ST. LOUIS, MO 63141

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

5/29/2001

Loan Approval Gross Amount

$93,200

Loan Approval from the SBA

Of the total $93,200 loan amount, the SBA guaranteed $79,220.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $93,200 loan. Remember, feel the fear, and do it anyway.

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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