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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Francisco, Business Loans > Union Bank Of California San Francisco Business Loans > Real Estate Agents And Brokers Loan | ||||
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Examples of Modesto SBA Loans
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Loans for Real Estate Agents and BrokersLooking for loans for real estate agents and brokers? An SBA loan may be just what you've been looking for. This $15,000 real estate agents and brokers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Modesto, California was able to borrow $15,000 from Union Bank Of California. The SBA made the loan possible by guaranteeing $7,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: REAL ESTATE AGENTS AND BROKERS SBA Loan Lender UNION BANK OF CALIFORNIA The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 531210 - Real Estate Agents and Brokers Loan Approval Date 10/18/2005 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. 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. 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. Related Links: Obtaining Funding - Getting Venture Capital Best Banks in San Francisco, California
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