Mariposa, California Entrepreneur Gets a Bank Loan

CaliforniaBusiness loans are available to California business owners through the SBA. In this case, a California bank provides the loan.

Getting a small business loan in Mariposa, California was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from County Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DIMENSION STONE MINING AND QUARRYING
MARIPOSA, CA 95338

SBA Loan Lender

COUNTY BANK
550 W MAIN ST
MERCED, CA 95340

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

212311 - Dimension Stone Mining and Quarrying

Loan Approval Date

10/11/2001

Loan Approval Gross Amount

$68,000

Loan Approval from the SBA

Of the total $68,000 loan amount, the SBA guaranteed $57,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. County Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, County Bank 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.

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