Loan Census Banking News and Information
November 14, 2024  
 
 
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California SBA Lenders

 

 
Loan Census SBA Loan Info

San Jose, California Bank Lends Money to Commercial Photography Company in Los Angeles, California

Thinking about meeting with a San Jose, California bank about an SBA loan? Here's one California business loan, issued by a San Jose bank, that was approved by the SBA.

Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local firm in Los Angeles, California. They received an SBA loan for $378,500. Awesome!

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PHOTOGRAPHY
LOS ANGELES, CA 90021

SBA Loan Lender

WELLS FARGO BANK
177 PARK AVE, STE 300, A-0514
SAN JOSE, CA 95113

This loan for a small business 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.

NAICS Code

541922 - Commercial Photography

Loan Approval Date

8/4/2004

Loan Approval Gross Amount

$378,500

Loan Approval from the SBA

Of the total $378,500 loan amount, the SBA guaranteed $283,875.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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