Company Gets a California Business Loan

SBA loans in California are tough to come by these days. We take a look at one California SBA loan, provided by a California bank, that was approved by the SBA.

Getting a small business loan in Santa Cruz, California was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Santa Cruz Community Cu. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HAND AND EDGE TOOL MANUFACTURING
SANTA CRUZ, CA 95062

SBA Loan Lender

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

The lender provided this SBA 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

332212 - Hand and Edge Tool Manufacturing

Loan Approval Date

5/27/2004

Loan Approval Gross Amount

$784,000

Loan Approval from the SBA

Of the total $784,000 loan amount, the SBA guaranteed $392,000.

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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

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