Greater Bay Bank SBA Loan to Supermarkets And Grocery Stores Company
Greater Bay Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.
This business knew how to go about getting a business bank loan. Based in San Francisco, California, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Greater Bay Bank, based in Palo Alto, California.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
SAN FRANCISCO, CA 94114
SBA Loan Lender
GREATER BAY BANK
420 COWPER ST
PALO ALTO, CA 94301
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.
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
4/26/2004
Loan Approval Gross Amount
$775,000
Loan Approval from the SBA
Of the total $775,000 loan amount, the SBA guaranteed $581,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 32 employees. This SBA loan request indicated that the loan would help retain 32 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide smart, affordable business financing for small businesses looking to expand.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $775,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Borrowing Money from Friends and Family
Good Banks for Small Business in Palo Alto, California
SBA California Banks