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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Stockton, Business Loans > Service 1st Bank Stockton Business Loans > Wood Container And Pallet Manufacturing Loan | ||||
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Raising Money in Vernalis, California With SBA Loans
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Firm Gets a California Business LoanSmall business loans in California are hard to find these days. We take a look at one California small business loan, provided by a California bank, that was approved by the SBA. This company, based in Vernalis, California, 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 Service 1st Bank. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: WOOD CONTAINER AND PALLET MANUFACTURING SBA Loan Lender SERVICE 1ST BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 321920 - Wood Container and Pallet Manufacturing Loan Approval Date 2/7/2003 Loan Approval Gross Amount $260,000 Loan Approval from the SBA Of the total $260,000 loan amount, the SBA guaranteed $195,000. 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 12 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Service 1st Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Family and Friend Investors - Your First Financiers SBA 7A Lenders in Stockton, California
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