Business Loan from First Republic Bank Given to Musical Instrument And Supplies Stores Company
First Republic 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.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South San Francisco, California was able to borrow $915,000 from First Republic Bank. The SBA made the loan possible by guaranteeing $686,250 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
SOUTH SAN FRANCISCO, CA 94080
SBA Loan Lender
FIRST REPUBLIC BANK
1400 CIVIC DR
WALNUT CREEK, CA 94596
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
451140 - Musical Instrument and Supplies Stores
Loan Approval Date
6/14/2002
Loan Approval Gross Amount
$915,000
Loan Approval from the SBA
Of the total $915,000 loan amount, the SBA guaranteed $686,250.
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 14 employees. The loan application indicated that the loan would help retain 14 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $915,000 loan. Remember, feel the fear, and do it anyway.
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:
Determining Proper Capital Structure for a Business
SBA Participating Banks in Walnut Creek, California
SBA California Lenders