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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Mortgage And Nonmortgage Loan Brokers Loan | ||||
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Monrovia, California Bank for SBA Loans
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Bank Of The West Gives Business Loan to Mortgage And Nonmortgage Loan Brokers CompanyBank loans in California are hard to find these days. We take a look at one California bank loan, provided by a California bank, that was approved by the SBA. This business, based in Monrovia, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of The West. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS SBA Loan Lender BANK OF THE WEST This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 7/1/2002 Loan Approval Gross Amount $342,000 Loan Approval from the SBA Of the total $342,000 loan amount, the SBA guaranteed $256,500. 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 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money 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 Bank Of The West 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: Best Truckee, California Banks for Small Business Getting an SBA Loan in California
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