Business Loan from Comerica Bank Given to Residential Care Company

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 small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Comerica Bank, out of Santa Cruz, California. The loan was granted and they received $301,000 to help grow their Pittsburg, California business.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
PITTSBURG, CA 94565

SBA Loan Lender

COMERICA BANK
25 RIVER ST
SANTA CRUZ, CA 95060

This SBA small business loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA provides a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623220 - Residential Mental Health and Substance Abuse Facilities

Loan Approval Date

2/19/2002

Loan Approval Gross Amount

$301,000

Loan Approval from the SBA

Of the total $301,000 loan amount, the SBA guaranteed $225,750.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $301,000. How would you spend $301,000 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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