SBA Loan from U.S. Bank National Association Helps General Line Grocery Wholesalers Company

U.S. Bank National Association and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in South San Francisco, California was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association, operating out of Cincinnati, Ohio. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LINE GROCERY WHOLESALERS
SOUTH SAN FRANCISCO, CA 94080

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This SBA business loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan 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

422410 - General Line Grocery Wholesalers

Loan Approval Date

4/1/2003

Loan Approval Gross Amount

$1,419,000

Loan Approval from the SBA

Of the total $1,419,000 loan amount, the SBA guaranteed $999,997.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in South San Francisco CA, you ought to talk with a local South San Francisco SBA lender or talk with an out-of-area SBA lender that has previously loaned money to South San Francisco businesses.

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.

Related Links:

Investor Turnoffs

Find an SBA Lender in Cincinnati, Ohio

Where to Get an SBA Loan Ohio