U.S. Bank National Association Gives Bank Loan to Portfolio Management Company

Would a California small business loan help your small business to grow and prosper? If so, you may want to talk with this Ohio bank, which offers SBA loans to California entrepreneurs.

By giving the right information to U.S. Bank National Association, this Livermore, California business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: PORTFOLIO MANAGEMENT
LIVERMORE, CA 94550

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

523920 - Portfolio Management

Loan Approval Date

10/25/2001

Loan Approval Gross Amount

$815,200

Loan Approval from the SBA

Of the total $815,200 loan amount, the SBA guaranteed $611,400.

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 42 employees. The SBA loan documents indicated that the loan would help retain 42 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Livermore CA, you ought to talk with a local Livermore SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Livermore 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:

The Friends and Family Network

SBA Approved Banks in Cincinnati, Ohio

Getting a Business Loan in Ohio