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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Luis Obispo, Business Loans > Mission Community Bank San Luis Obispo Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Atascadero, California Bank Loan
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Fitness and Recreational Sports Centers SBA LoansLooking for SBA loans for fitness and recreational sports centers? An SBA loan may be just what you've been looking for. This $647,000 fitness and recreational sports centers loan was issued by a California bank. This small business knew how to go about getting a business bank loan. Based in Atascadero, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Mission Community Bank, based in San Luis Obispo, California. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender MISSION COMMUNITY BANK This lender issued this business loan under the SBA 7A lending 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 713940 - Fitness and Recreational Sports Centers Loan Approval Date 1/8/2003 Loan Approval Gross Amount $647,000 Loan Approval from the SBA Of the total $647,000 loan amount, the SBA guaranteed $485,250. 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 11 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Borrowing Money from Friends and Family SBA 7A Banks in San Luis Obispo, California
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