Santa Rosa, California Business Gets SBA-Guaranteed Funding from Circle Bank
Circle Bank 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.
This business knew how to go about getting a business bank loan. Based in Santa Rosa, California, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Circle Bank, based in Novato, California.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
SANTA ROSA, CA 95404
SBA Loan Lender
CIRCLE BANK
1400A GRANT AVE
NOVATO, CA 94945
This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5812 - Eating Places
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
1/18/2005
Loan Approval Gross Amount
$262,500
Loan Approval from the SBA
Of the total $262,500 loan amount, the SBA guaranteed $196,875.
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 10 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My 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.
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:
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