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November 23, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > San Diego, Business Loans > U.S. Bank National Association San Diego Business Loans > Supermarkets And Grocery Stores Loan | ||||
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California SBA Lenders
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Entrepreneur Works With San Diego, California Bank to Get an SBA LoanThinking about meeting with a San Diego, California bank about a small business loan? Here's one Washington business loan, issued by a San Diego bank, that was approved by the SBA. Applying for an SBA loan with U.S. Bank National Association worked out well for our friends at one local business in Seattle, Washington. They received an SBA loan for $952,000. Awesome! SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 9/20/2005 Loan Approval Gross Amount $952,000 Loan Approval from the SBA Of the total $952,000 loan amount, the SBA guaranteed $714,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 20 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into U.S. Bank National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Borrowing Money from Friends and Family SBA 7A Banks in San Diego, California
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