Sunnyvale, California Business Gets SBA-Guaranteed Funding from First Community Bank

First Community Bank 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.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Community Bank, out of Santa Rosa, California. The loan was granted and they received $1,690,100 to help grow their Sunnyvale, California business.

SBA Loan Borrower

COMPANY TYPE: FOOD SERVICE CONTRACTORS
SUNNYVALE, CA 94068

SBA Loan Lender

FIRST COMMUNITY BANK
438 FIRST ST
SANTA ROSA, CA 95404

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

722310 - Food Service Contractors

Loan Approval Date

6/30/2006

Loan Approval Gross Amount

$1,690,100

Loan Approval from the SBA

Of the total $1,690,100 loan amount, the SBA guaranteed $1,267,575.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 20 existing jobs.

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

If you are wondering how to raise money for a company in Sunnyvale CA, you ought to talk with a local Sunnyvale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sunnyvale businesses.

We can help you find the best banks for small businesses in Sunnyvale or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Debt Financing

SBA Approved Banks in Santa Rosa, California

Getting a Business Loan in California