Elk Grove, California Bank Gives SBA Loan to Eating Places Company

Want to talk with an Elk Grove, California bank about an SBA loan? Here's one California business loan, issued by an Elk Grove bank, that was approved by the SBA.

Applying for an SBA loan with Farmers & Merchants Bank - Cent. worked out well for our friends at one local business in Salida, California. They got an SBA loan for $146,000. Great job!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SALIDA, CA 95368

SBA Loan Lender

FARMERS & MERCHANTS BANK - CENT.
8788 ELK GROVE BLVD
ELK GROVE, CA 95624

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

7/7/2000

Loan Approval Gross Amount

$146,000

Loan Approval from the SBA

Of the total $146,000 loan amount, the SBA guaranteed $109,500.

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 only one employee. The loan application indicated that the borrowed money would help create 3 new jobs.

Next Steps for Getting an SBA Loan

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

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:

Small Business Credit Cards

Small Bank Loans in Elk Grove, California

California SBA 7A Lenders