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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Stockton, Business Loans > Service 1st Bank Stockton Business Loans > Sears Retail Loan | ||||
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Raising Money in Placerville, California With SBA Loans
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Service 1st Bank Provides SBA Loan to Buy Sears Catalog Store FranchiseNeed a loan to buy a Sears Catalog Store franchise? Service 1st Bank has a history of making these loans and they are guaranteed by the SBA. Sears Catalog Store franchise loans are available to Placerville, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Service 1st Bank, based in Stockton, California, issued an SBA franchise loan for a Sears Catalog Store franchise in 2002. We've got all the details on this California small business loan. SBA Loan Borrower SEARS RETAIL SBA Loan Lender SERVICE 1ST BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5722 - Household Appliance Stores NAICS Code 443111 - Household Appliance Stores Loan Approval Date 9/5/2002 Loan Approval Gross Amount $405,000 Loan Approval from the SBA Of the total $405,000 loan amount, the SBA guaranteed $303,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 Service 1st 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. Related Links: Banking Deregulation's Effects on Entrepreneurship SBA 7A Lenders in Stockton, California Getting an SBA Loan in California
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