Business Loan from Santa Cruz Community Cu Given to Exam Preparation And Tutoring Company

Santa Cruz Community Cu 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.

Getting a small business loan in Santa Cruz, California was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Santa Cruz Community Cu, operating out of Santa Cruz, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: EXAM PREPARATION AND TUTORING
SANTA CRUZ, CA 95062

SBA Loan Lender

SANTA CRUZ COMMUNITY CU
324 FRONT ST
SANTA CRUZ, CA 95060

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

611691 - Exam Preparation and Tutoring

Loan Approval Date

4/28/2006

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $72,000.

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 35 employees. The SBA loan documents indicated that the funding would help generate 136 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

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Small Business Banks in Santa Cruz, California

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