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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Auburn, Business Loans > Wells Fargo Bank Auburn Business Loans > Physicians Loan | ||||
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How to Get SBA Money in Meadow Vista, California
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Meadow Vista, California Entrepreneur Gets a Small Business LoanCaliforniaSmall business loans are available to California small business owners through the SBA. In this case, a California bank provides the loan. Getting a small business loan in Meadow Vista, California was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender WELLS FARGO BANK 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. NAICS Code 621111 - Physicians Loan Approval Date 11/9/2000 Loan Approval Gross Amount $72,000 Loan Approval from the SBA Of the total $72,000 loan amount, the SBA guaranteed $57,600. 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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. 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 Wells Fargo 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:
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