Business Loan from Heritage Oaks Bank Given to Limited-Service Restaurants Company

Heritage Oaks Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Atascadero, California, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Heritage Oaks Bank, based in Paso Robles, California.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
ATASCADERO, CA 93422

SBA Loan Lender

HERITAGE OAKS BANK
545 12TH ST
PASO ROBLES, CA 93446

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/18/2007

Loan Approval Gross Amount

$118,800

Loan Approval from the SBA

Of the total $118,800 loan amount, the SBA guaranteed $100,980.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Heritage Oaks Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Small Bank Loans in Paso Robles, California

Where to Get an SBA Loan California