Elk Grove, California Bank Gives SBA Loan to Limited-Service Restaurants Company

Find Elk Grove, California banks that specialize in business loans and know how to work with entrepreneurs. Farmers & Merchants Bank - Cent. is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Lodi, California starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Farmers & Merchants Bank - Cent.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LODI, CA 95240

SBA Loan Lender

FARMERS & MERCHANTS BANK - CENT.
8788 ELK GROVE BLVD
ELK GROVE, CA 95624

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

722211 - Limited-Service Restaurants

Loan Approval Date

12/21/2000

Loan Approval Gross Amount

$117,500

Loan Approval from the SBA

Of the total $117,500 loan amount, the SBA guaranteed $88,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find business people willing to loan money, 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.

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