Entrepreneur Works With Walnut Creek, California Bank to Get an SBA Loan

Get to know Walnut Creek, California banks that specialize in small business loans and know how to work with entrepreneurs. Superior Financial Group, LLC is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Raleigh, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Superior Financial Group, LLC. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: EDUCATIONAL SUPPORT SERVICES
RALEIGH, NC 27615

SBA Loan Lender

SUPERIOR FINANCIAL GROUP, LLC
165 LENNON LANE, SUITE 101
WALNUT CREEK, CA 94598

This lender issued this debt financing 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.

NAICS Code

611710 - Educational Support Services

Loan Approval Date

3/23/2007

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Strategic Investors

Best Banks in Walnut Creek, California

Where to Get an SBA Loan California