SBA Loan from Heritage Bank Of Commerce Helps Basic Organic Chemical Manufacturing Company

An SBA loan from Heritage Bank Of Commerce typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Watsonville, California business owner got a $425,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Heritage Bank Of Commerce, out of San Jose, California. The loan was granted and they received $425,000 to help grow their Watsonville, California business.

SBA Loan Borrower

COMPANY TYPE: BASIC ORGANIC CHEMICAL MANUFACTURING
WATSONVILLE, CA 95076

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

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

325199 - Basic Organic Chemical Manufacturing

Loan Approval Date

1/31/2007

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 5 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Obtaining Funding - How to Borrow Money

SBA Approved Banks in San Jose, California

SBA Participating Banks in California