Goshen (goshen Junction), California Business Gets SBA-Guaranteed Funding from Bank Of The Sierra

Bank Of The Sierra and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Goshen (goshen Junction), California, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Bank Of The Sierra, based in Porterville, California.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
GOSHEN (GOSHEN JUNCTION), CA 93227

SBA Loan Lender

BANK OF THE SIERRA
86 N MAIN ST
PORTERVILLE, CA 93257

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

238990 - Specialty Trade Contractors

Loan Approval Date

5/30/2003

Loan Approval Gross Amount

$34,900

Loan Approval from the SBA

Of the total $34,900 loan amount, the SBA guaranteed $29,665.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. The loan application indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Goshen (goshen Junction) CA, you ought to talk with a local Goshen (goshen Junction) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Goshen (goshen Junction) businesses.

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:

Find Start-Up Capital

Small Business Banks in Porterville, California

Getting an SBA Loan in California