Novato, California Entrepreneur Gets a Small Business Loan

Want a California business loan? This California entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners.

This company, based in Novato, 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 First Republic Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HUMAN RESOURCES CONSULTING SERVICES
Novato, CA 94947

SBA Loan Lender

FIRST REPUBLIC BANK
1400 CIVIC DR
WALNUT CREEK, CA 94596

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541612 - Human Resources Consulting Services

Loan Approval Date

8/11/2006

Loan Approval Gross Amount

$87,000

Loan Approval from the SBA

Of the total $87,000 loan amount, the SBA guaranteed $73,950.

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 no employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you have been wondering how do i get money to start a business in Novato CA, you ought to talk with a local Novato SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Novato businesses.

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 First Republic Bank 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.

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