Grass Valley, California Entrepreneur Gets an SBA Loan

Small business loans in California are hard to find these days. We take a look at one California small business loan, provided by a Nevada bank, that was approved by the SBA.

This company, based in Grass Valley, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Washington Mutual Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DATA PROCESSING, HOSTING, AND RELATED SERVICES
GRASS VALLEY, CA 95945

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

518210 - Data Processing, Hosting, and Related Services

Loan Approval Date

1/31/2006

Loan Approval Gross Amount

$33,000

Loan Approval from the SBA

Of the total $33,000 loan amount, the SBA guaranteed $16,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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