Stockton, California Business Gets SBA-Guaranteed Funding from Farmers & Merchants Bank - Cent.

An SBA loan from Farmers & Merchants Bank - Cent. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stockton, California business owner got a $117,600 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Stockton, California was able to borrow $117,600 from Farmers & Merchants Bank - Cent.. The SBA made the loan possible by guaranteeing $99,960 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
STOCKTON, CA 95207

SBA Loan Lender

FARMERS & MERCHANTS BANK - CENT.
8788 ELK GROVE BLVD
ELK GROVE, CA 95624

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

448210 - Shoe Stores

Loan Approval Date

5/20/2005

Loan Approval Gross Amount

$117,600

Loan Approval from the SBA

Of the total $117,600 loan amount, the SBA guaranteed $99,960.

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 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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.

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