Ontario, California Business Gets SBA-Guaranteed Funding from Comerica Bank

Comerica 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 growing company knew how to go about getting a business bank loan. Based in Ontario, California, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Comerica Bank, based in San Jose, California.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
ONTARIO, CA 91761

SBA Loan Lender

COMERICA BANK
333 W SANTA CLARA ST
SAN JOSE, CA 95113

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

11/4/2005

Loan Approval Gross Amount

$846,200

Loan Approval from the SBA

Of the total $846,200 loan amount, the SBA guaranteed $634,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 24 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.

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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