SBA Loan from Service 1st Bank Helps Wrecking And Demolition Work Company

An SBA loan from Service 1st Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Livermore, California business owner got a $685,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Service 1st Bank, out of Tracy, California. The loan was granted and they received $685,000 to help grow their Livermore, California business.

SBA Loan Borrower

COMPANY TYPE: WRECKING AND DEMOLITION WORK
LIVERMORE, CA 94550

SBA Loan Lender

SERVICE 1ST BANK
60 W 10TH ST
TRACY, CA 95376

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1795 - Wrecking and Demolition Work

NAICS Code

235940 - Wrecking and Demolition Contractors

Loan Approval Date

6/3/2002

Loan Approval Gross Amount

$685,000

Loan Approval from the SBA

Of the total $685,000 loan amount, the SBA guaranteed $513,750.

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 10 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Service 1st Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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