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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Walnut Creek, Business Loans > First Republic Bank Walnut Creek Business Loans > Machine Tool Manufacturing Loan | ||||
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Business Loan from First Republic Bank
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Business Loan from First Republic Bank Given to Machine Tool Manufacturing CompanyFirst Republic Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Republic Bank, out of Walnut Creek, California. The loan was granted and they received $100,000 to help grow their Newark, California business. SBA Loan Borrower COMPANY TYPE: MACHINE TOOL MANUFACTURING SBA Loan Lender FIRST REPUBLIC BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 333513 - Machine Tool Manufacturing Loan Approval Date 11/29/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 15 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Where to Get an SBA Loan in Walnut Creek, California Getting an SBA Loan in California
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