Hardware Stores Bank Loans
With these bank loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $245,000 was given to a California entrepreneur in 2006.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Jose, California was able to borrow $245,000 from United Security Bank. The SBA made the loan possible by guaranteeing $183,750 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: HARDWARE STORES
SAN JOSE, CA 95129
SBA Loan Lender
UNITED SECURITY BANK
2126 INYO ST
FRESNO, CA 93710
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
444130 - Hardware Stores
Loan Approval Date
10/25/2006
Loan Approval Gross Amount
$245,000
Loan Approval from the SBA
Of the total $245,000 loan amount, the SBA guaranteed $183,750.
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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
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.
Related Links:
Advice on Getting a Small Business Loan
Find an SBA Lender in Fresno, California
California SBA 7A Banks