Bridge Bank SBA Loan to Machine Shops Company

An SBA loan from Bridge Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Santa Clara, California business owner got a $2,000,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Clara, California was able to borrow $2,000,000 from Bridge Bank. The SBA made the loan possible by guaranteeing $1,000,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
SANTA CLARA, CA 95008

SBA Loan Lender

BRIDGE BANK
55 ALMADEN BLVD
SAN JOSE, CA 95113

This loan for a small business was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

1/8/2003

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 243 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Microlending as a Small Business Funding Source

SBA Approved Banks in San Jose, California

California SBA Bank Lenders