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November 21, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Sacramento, Business Loans > California Bank & Trust Sacramento Business Loans > Locksmiths Loan | ||||
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Raising Money in Spivak, Colorado With SBA Loans
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California Bank & Trust Gives Bank Loan to Locksmiths CompanyWould a Colorado SBA loan help your business get to the next level? If so, you may want to talk with this California bank, which offers SBA loans to Colorado entrepreneurs. This business, based in Spivak, Colorado, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from California Bank & Trust. We've got the inside scoop on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: LOCKSMITHS SBA Loan Lender CALIFORNIA BANK & TRUST 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 561622 - Locksmiths Loan Approval Date 6/7/2002 Loan Approval Gross Amount $271,000 Loan Approval from the SBA Of the total $271,000 loan amount, the SBA guaranteed $203,250. 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 6 employees. The loan application indicated that the loan would help retain 6 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Dealing With Venture Capitalists Best Banks in Sacramento, California
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