Hemet, California Business Gets SBA-Guaranteed Funding from California Bank & Trust

California Bank & Trust 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.

Getting a small business loan in Hemet, California was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from California Bank & Trust, operating out of Sacramento, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
HEMET, CA 92544

SBA Loan Lender

CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

4/11/2003

Loan Approval Gross Amount

$353,000

Loan Approval from the SBA

Of the total $353,000 loan amount, the SBA guaranteed $264,750.

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 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Business Line of Credit

Best Sacramento, California Banks for Small Business

Getting an SBA Loan in California