Loans for Exam Preparation and Tutoring

With these loans for exam preparation and tutoring, the SBA guarantees the lender that the loan will be repaid. This exam preparation and tutoring loan for $324,000 was given to a California entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Gilroy, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Pinnacle Bank, based in Morgan Hill, California.

SBA Loan Borrower

COMPANY TYPE: EXAM PREPARATION AND TUTORING
GILROY, CA 95020

SBA Loan Lender

PINNACLE BANK
18181 BUTTERFIELD BLVD, STE 1
MORGAN HILL, CA 95037

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611691 - Exam Preparation and Tutoring

Loan Approval Date

12/1/2006

Loan Approval Gross Amount

$324,000

Loan Approval from the SBA

Of the total $324,000 loan amount, the SBA guaranteed $243,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Pinnacle Bank and they will explain how you can get an SBA loan for your company.

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:

Banking Deregulation's Effects on Entrepreneurship

Where to Get an SBA Loan in Morgan Hill, California

California SBA 7A Lenders