How to Get a Loan for Food Service Contractors

With these commercial loans for food service contractors, the SBA guarantees the lender that the loan will be repaid. This food service contractors loan for $252,000 was given to an Arizona entrepreneur in 2006.

Getting a small business loan in Sierra Vista (garden Canon), Arizona was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from California Bank & Trust, operating out of Sacramento, California. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD SERVICE CONTRACTORS
SIERRA VISTA (GARDEN CANON), AZ 85635

SBA Loan Lender

CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722310 - Food Service Contractors

Loan Approval Date

2/2/2006

Loan Approval Gross Amount

$252,000

Loan Approval from the SBA

Of the total $252,000 loan amount, the SBA guaranteed $189,000.

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 4 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. California Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, California Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Debt Financing

SBA Participating Banks in Sacramento, California

SBA California Banks