Richmond, California Business Gets SBA-Guaranteed Funding from California Bank & Trust
California Bank & Trust has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Richmond, California was able to borrow $120,000 from California Bank & Trust. The SBA made the loan possible by guaranteeing $60,000 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
RICHMOND, CA 94804
SBA Loan Lender
CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833
This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811118 - Automotive Mechanical and Electrical Repair and Maintenance
Loan Approval Date
7/22/2004
Loan Approval Gross Amount
$120,000
Loan Approval from the SBA
Of the total $120,000 loan amount, the SBA guaranteed $60,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like California Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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.
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