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May 6, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Temecula, Business Loans > Mission Oaks National Bank Temecula Business Loans > Financial Vehicles Loan | ||||
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Magnolia Avenue SBA Loans
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California Business Loan Issued to Financial Vehicles CompanySearching for a California SBA loan? This California entrepreneur got an SBA loan, provided by a California bank that works with the SBA to help small business owners. By giving the right information to Mission Oaks National Bank, this Magnolia Avenue, California business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FINANCIAL VEHICLES SBA Loan Lender MISSION OAKS NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 525990 - Financial Vehicles Loan Approval Date 12/13/2002 Loan Approval Gross Amount $54,400 Loan Approval from the SBA Of the total $54,400 loan amount, the SBA guaranteed $27,200. 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 4 employees. The SBA loan application for the borrower indicated that the funding would help create 1 new job. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Lenders in Temecula, California Browse All Business Loan Sources for California
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