Bank - America California SBA Loan to Automotive And Apparel Trimmings Company

Looking to get a California small business loan? Here's one California business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sacramento, California was able to borrow $300,000 from Bank - America California. The SBA made the loan possible by guaranteeing $225,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE AND APPAREL TRIMMINGS
SACRAMENTO, CA 95834

SBA Loan Lender

BANK - AMERICA CALIFORNIA
10850 WHITE ROCK ROAD, STE 10
RANCHO CORDOVA, CA 95670

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.

SIC Code

2396 - Automotive and Apparel Trimmings

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 3 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Sacramento CA, you ought to talk with a local Sacramento SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sacramento businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 Decide How Much to Raise

Where to Get an SBA Loan in Rancho Cordova, California

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