Salinas, California Lender Lends Money to Commercial Equipment Wholesalers Company

Find Salinas, California banks that specialize in business loans and know how to work with entrepreneurs. Community Bank - Cent. Californi is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Salinas, California starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Community Bank - Cent. Californi. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL EQUIPMENT WHOLESALERS
SALINAS, CA 93905

SBA Loan Lender

COMMUNITY BANK - CENT. CALIFORNI
301 MAIN ST
SALINAS, CA 93901

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

421440 - Commercial Equipment Wholesalers

Loan Approval Date

4/12/2002

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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 20 employees. The SBA loan documents indicated that the loan would help retain 20 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, 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.

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