Growing Company Gets a California SBA Loan

Would a California bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this South Dakota bank, which offers SBA loans to California entrepreneurs.

By giving the right information to Wells Fargo Bank, this National City, California business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
NATIONAL CITY, CA 91950

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

2/20/2008

Loan Approval Gross Amount

$1,436,000

Loan Approval from the SBA

Of the total $1,436,000 loan amount, the SBA guaranteed $1,077,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

This SBA loan was for $1,436,000. How would you spend $1,436,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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