California Business Loan Issued to Elementary And Secondary Schools Company

Searching for a California small business loan? This California entrepreneur got a small business loan, provided by a California bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Rancho Cordova, California by studying this loan to a local company, made back in 2004. Banks like Vineyard Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS
RANCHO CORDOVA, CA 95670

SBA Loan Lender

VINEYARD BANK
1260 CORONA POINTE CT
CORONA, CA 92879

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

8211 - Elementary and Secondary Schools

NAICS Code

611110 - Elementary and Secondary Schools

Loan Approval Date

9/23/2004

Loan Approval Gross Amount

$352,000

Loan Approval from the SBA

Of the total $352,000 loan amount, the SBA guaranteed $264,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 17 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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:

Family and Friend Investors - Your First Financiers

SBA Approved Banks in Corona, California

California SBA 7A Banks