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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Rancho Cordova, Business Loans > Bank - America California Rancho Cordova Business Loans > Piece Goods, Notions, And Other Dry Goods Loan | ||||
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California Bank SBA Loans
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Bank - America California SBA Loan to Piece Goods, Notions, And Other Dry Goods CompanySearching for a California SBA loan? Here's one California business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $192,500 from Bank - America California. The SBA made the loan possible by guaranteeing $144,375 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PIECE GOODS, NOTIONS, AND OTHER DRY GOODS SBA Loan Lender BANK - AMERICA CALIFORNIA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5131 - Piece Goods, Notions, and Other Dry Goods Loan Approval Date 3/3/2000 Loan Approval Gross Amount $192,500 Loan Approval from the SBA Of the total $192,500 loan amount, the SBA guaranteed $144,375. 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 25 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank - America California had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank - America California made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Banks in Rancho Cordova, California
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