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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Stockton, Business Loans > Service 1st Bank Stockton Business Loans > Consumer Electronics Repair And Maintenance Loan | ||||
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Raising Money in Lockeford, California With SBA Loans
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Consumer Electronics Repair and Maintenance LoansLooking for loans for consumer electronics repair and maintenance? Talk to a banker who works with the SBA. This $150,000 consumer electronics repair and maintenance loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lockeford, California was able to borrow $150,000 from Service 1st Bank. The SBA made the loan possible by guaranteeing $127,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: CONSUMER ELECTRONICS REPAIR AND MAINTENANCE SBA Loan Lender SERVICE 1ST BANK This lender provides SBA 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 811211 - Consumer Electronics Repair and Maintenance Loan Approval Date 1/11/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 8 employees. The loan application indicated that the loan would help generate 1 new job and retain 7 existing jobs. Next Steps for Getting an SBA Loan 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. 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 Service 1st Bank 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. Related Links: Accountant's Role in Securing Financing SBA Participating Banks in Stockton, California
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