Entrepreneur Works With Salinas, California Bank to Get an SBA Loan

Thinking about meeting with a Salinas, California bank about a small business loan? Here's one California business loan, issued by a Salinas bank, that was approved by the SBA.

Applying for an SBA loan with Community Bank - Cent. Californi worked out well for our friends at one local company in Soledad, California. They received an SBA loan for $529,800. Way to go!

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
SOLEDAD, CA 93960

SBA Loan Lender

COMMUNITY BANK - CENT. CALIFORNI
301 MAIN ST
SALINAS, CA 93901

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

12/29/2005

Loan Approval Gross Amount

$529,800

Loan Approval from the SBA

Of the total $529,800 loan amount, the SBA guaranteed $397,350.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

SBA Participating Banks in Salinas, California

California SBA 7A Banks

Banks in Salinas, California That Make SBA Loans

Entrepreneur Works With Salinas, California Bank to Get an SBA Loan