Riverside, California Entrepreneur Gets a Bank Loan
CaliforniaBusiness loans are available to California business owners through the SBA. In this case, a Texas bank provides the loan.
Getting a small business loan in Riverside, California was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: BUSINESS SUPPORT SERVICES
RIVERSIDE, CA 92505
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
561499 - Business Support Services
Loan Approval Date
9/2/2004
Loan Approval Gross Amount
$1,529,800
Loan Approval from the SBA
Of the total $1,529,800 loan amount, the SBA guaranteed $1,147,350.
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 40 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 45 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Advice on Getting a Small Business Loan
SBA Participating Banks in Dallas, Texas
Where to Get an SBA Loan Texas