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November 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Spokane, Business Loans > Sterling Savings Bank Spokane Business Loans > Jewelry, Watch, Precious Stone, And Precious Metal Merchant Wholesalers Loan | ||||
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SBA Loan from Sterling Savings Bank
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Business Loan from Sterling Savings Bank Given to Jewelry, Watch, Precious Stone, And Precious Metal Merchant Wholesalers CompanySterling Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sacramento, California was able to borrow $735,000 from Sterling Savings Bank. The SBA made the loan possible by guaranteeing $551,250 of this California small business loan. SBA Loan Borrower COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL MERCHANT WHOLESALERS SBA Loan Lender STERLING SAVINGS BANK 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 423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Loan Approval Date 6/22/2007 Loan Approval Gross Amount $735,000 Loan Approval from the SBA Of the total $735,000 loan amount, the SBA guaranteed $551,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sterling Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sterling Savings 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: Best Spokane, Washington Banks for Small Business SBA Participating Banks in Washington
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