Modesto, California Entrepreneur Gets a Business Loan
Looking to get a California business loan? This California entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners.
Getting a small business loan in Modesto, California was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Umpqua Bank. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
MODESTO, CA 95350
SBA Loan Lender
UMPQUA BANK
1050 PLEASANT GROVE, STE 110
ROSEVILLE, CA 95678
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
441310 - Automotive Parts and Accessories Stores
Loan Approval Date
9/27/2002
Loan Approval Gross Amount
$540,000
Loan Approval from the SBA
Of the total $540,000 loan amount, the SBA guaranteed $405,000.
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 14 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
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.
We can help you find the best banks for small businesses in Modesto or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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