Growing Company Gets a California Small Business Loan
Bank loans in California are tough to come by these days. We take a look at one California bank loan, provided by a California bank, that was approved by the SBA.
Getting a small business loan in Paso Robles (corporate Name El, California was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Mission Community Bank. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS
PASO ROBLES (CORPORATE NAME EL, CA 93446
SBA Loan Lender
MISSION COMMUNITY BANK
581 HIGUERA ST
SAN LUIS OBISPO, CA 93401
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
522310 - Mortgage and Nonmortgage Loan Brokers
Loan Approval Date
12/30/2004
Loan Approval Gross Amount
$75,000
Loan Approval from the SBA
Of the total $75,000 loan amount, the SBA guaranteed $37,500.
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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mission Community Bank and they will explain how you can get an SBA loan for your company.
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:
Business Credit Evaluation
Good Banks for Small Business in San Luis Obispo, California
SBA California Banks