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April 16, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Arroyo Grande, Business Loans > Santa Lucia Bank Arroyo Grande Business Loans > Automotive Exhaust System Repair Loan | ||||
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Arroyo Grande Bank Loan
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Arroyo Grande, California Bank Lends Money to Automotive Exhaust System Repair Company in Arroyo Grande, CaliforniaThinking about meeting 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. The business was able to get an SBA loan for $117,000. Awesome! SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SBA Loan Lender SANTA LUCIA BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 12/18/2002 Loan Approval Gross Amount $117,000 Loan Approval from the SBA Of the total $117,000 loan amount, the SBA guaranteed $99,450. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $117,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Arroyo Grande, California Getting an SBA Loan in California
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