Growing Company Gets a California Small Business Loan

Bank loans in California are tough to come by these days. We take a look at one California bank loan, provided by a California bank, that was approved by the SBA.

Getting a small business loan in Tracy, California was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
TRACY, CA 95376

SBA Loan Lender

BANK OF THE WEST
10181 TRUCKEE TAHOE AIRPORT R
TRUCKEE, CA 96161

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

811111 - General Automotive Repair

Loan Approval Date

9/19/2001

Loan Approval Gross Amount

$214,300

Loan Approval from the SBA

Of the total $214,300 loan amount, the SBA guaranteed $160,725.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of The West that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Where to Get an SBA Loan California