Cupertino, California Bank Gives SBA Loan to Electronic Parts And Equipment Wholesalers Company

Find Cupertino, California banks that specialize in business loans and know how to work with entrepreneurs. Cupertino National Bank A Division is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Mountain View, California starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Cupertino National Bank A Division. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT WHOLESALERS
MOUNTAIN VIEW, CA 94039

SBA Loan Lender

CUPERTINO NATIONAL BANK A DIVISION
20230 STEVENS CREEK BLVD
CUPERTINO, CA 95014

The lender provided this SBA 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

421690 - Electronic Parts and Equipment Wholesalers

Loan Approval Date

6/7/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

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.

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