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| Entrepreneur Resources | California Bank & Trust Sacramento Business Loans | ||||
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California Bank & Trust
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Miami, Florida Business Gets SBA-Guaranteed Funding from California Bank & TrustCalifornia Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $100,000 from California Bank & Trust. The SBA made the loan possible by guaranteeing $50,000 of this Florida small business loan. SBA Loan Borrower DONNATELLA HANDBAGS & PERFUMES SBA Loan Lender CALIFORNIA BANK & TRUST This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 446120 - Cosmetics, Beauty Supplies, and Perfume Stores Loan Approval Date 6/4/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower, Donnatella Handbags & Perfumes, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs. This loan was paid in full, and was closed out on 3/31/2008. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Donnatella Handbags & Perfumes needed a loan. California Bank & Trust probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, California Bank & Trust made the loan. The end result was that Donnatella Handbags & Perfumes was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Good Banks for Small Business in Sacramento, California SBA Participating Banks in California If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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