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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Elk Grove, Business Loans > Farmers & Merchants Bank - Cent. Elk Grove Business Loans > Motor Vehicle Parts Manufacturing Loan | ||||
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California Bank SBA Loans
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Entrepreneur Works With Elk Grove, California Bank to Get an SBA LoanGet business loans from an Elk Grove, California bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Farmers & Merchants Bank - Cent. is a Elk Grove, California small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a California company. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE PARTS MANUFACTURING SBA Loan Lender FARMERS & MERCHANTS BANK - CENT. As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 336399 - Motor Vehicle Parts Manufacturing Loan Approval Date 6/15/2001 Loan Approval Gross Amount $155,000 Loan Approval from the SBA Of the total $155,000 loan amount, the SBA guaranteed $116,250. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Farmers & Merchants Bank - Cent. 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: Obtaining Funding - How to Borrow Money SBA 7A Lenders in Elk Grove, California
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