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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Palo Alto, Business Loans > Greater Bay Bank Palo Alto Business Loans > Masonry Contractors Loan | ||||
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Greater Bay Bank
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San Leandro, California Business Gets SBA-Guaranteed Funding from Greater Bay BankGreater Bay Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Leandro, California was able to borrow $747,500 from Greater Bay Bank. The SBA made the loan possible by guaranteeing $560,625 of this California small business loan. SBA Loan Borrower COMPANY TYPE: MASONRY CONTRACTORS SBA Loan Lender GREATER BAY BANK 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 238140 - Masonry Contractors Loan Approval Date 2/12/2004 Loan Approval Gross Amount $747,500 Loan Approval from the SBA Of the total $747,500 loan amount, the SBA guaranteed $560,625. 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 16 employees. This SBA loan request indicated that the loan would help retain 16 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $747,500. How would you spend $747,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks for Small Business in Palo Alto, California
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