Get an SBA Loan for Residential Property Managers

Looking for bank loans for residential property managers? Try the SBA. This $484,000 residential property managers loan was issued by a California bank.

Getting a small business loan in Truckee, California was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Sacramento, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: REAL ESTATE AGENTS AND MANAGERS
TRUCKEE, CA 96161

SBA Loan Lender

COMERICA BANK
455 CAPITAL MALL, STE 115
SACRAMENTO, CA 95814

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6531 - Real Estate Agents and Managers

NAICS Code

531311 - Residential Property Managers

Loan Approval Date

5/23/2003

Loan Approval Gross Amount

$484,000

Loan Approval from the SBA

Of the total $484,000 loan amount, the SBA guaranteed $363,000.

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 8 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

Related Links:

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Where to Get an SBA Loan in Sacramento, California

California SBA Banks