California Bank & Trust SBA Loan to Child Day Care Services Company

An SBA loan from California Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Las Vegas, Nevada business owner got a $59,200 loan.

This small firm knew how to go about getting a business bank loan. Based in Las Vegas, Nevada, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was California Bank & Trust, based in Sacramento, California.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
LAS VEGAS, NV 89120

SBA Loan Lender

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

This loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

6/17/2003

Loan Approval Gross Amount

$59,200

Loan Approval from the SBA

Of the total $59,200 loan amount, the SBA guaranteed $50,320.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 38 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into California Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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