Entrepreneur Works With Arroyo Grande, California Bank to Get an SBA Loan

Want to talk with an Arroyo Grande, California bank about a business loan? Here's one California business loan, issued by an Arroyo Grande bank, that was approved by the SBA.

Applying for an SBA loan with Santa Lucia Bank worked out well for our friends at one local business in Arroyo Grande, California. They received an SBA loan for $68,500. Way to go!

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
ARROYO GRANDE, CA 93420

SBA Loan Lender

SANTA LUCIA BANK
1530 E GRAND AVE
ARROYO GRANDE, CA 93420

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

5/10/2000

Loan Approval Gross Amount

$68,500

Loan Approval from the SBA

Of the total $68,500 loan amount, the SBA guaranteed $54,800.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $68,500 loan. Remember, feel the fear, and do it anyway.

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:

SBIR Funding

SBA 7A Lenders in Arroyo Grande, California

California SBA 7A Lenders