Morro Bay, California Entrepreneur Gets an SBA Loan

CaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, a California bank provides the loan.

Getting a small business loan in Morro Bay, California was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Rabobank, National Association. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
MORRO BAY, CA 93442

SBA Loan Lender

RABOBANK, NATIONAL ASSOCIATION
899 GRAND AVE
GROVER BEACH, CA 93433

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

4/4/2000

Loan Approval Gross Amount

$159,800

Loan Approval from the SBA

Of the total $159,800 loan amount, the SBA guaranteed $119,850.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Rabobank, National Association are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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