Local Business Gets a California Business Loan
Looking to get 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.
Getting a small business loan in Porterville, California was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Temecula Valley Bank. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
PORTERVILLE, CA 93257
SBA Loan Lender
TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590
This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
9/4/2002
Loan Approval Gross Amount
$480,000
Loan Approval from the SBA
Of the total $480,000 loan amount, the SBA guaranteed $360,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 6 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.
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 Temecula Valley 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:
Determining Proper Capital Structure for a Business
SBA Participating Banks in Temecula, California
SBA California Banks