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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > New York, Business Loans > Grow America Fund Inc New York Business Loans > General Freight Trucking, Local Loan | ||||
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Small Business Banks That Lend to California Businesses
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Grow America Fund Inc Gives Small Business Loan to General Freight Trucking, Local CompanyCaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, a New York bank provides the loan. This business, based in San Bernardino, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Grow America Fund Inc. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender GROW AMERICA FUND INC This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 7/13/2001 Loan Approval Gross Amount $32,000 Loan Approval from the SBA Of the total $32,000 loan amount, the SBA guaranteed $27,200. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Grow America Fund Inc and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Good Banks for Small Business in New York, New York Browse All Business Loan Sources for New York
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