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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Rancho Santa Margarit, Business Loans > South Cnty Bank Rancho Santa Margarit Business Loans > Full-Service Restaurants Loan | ||||
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California Small Business Loans from South Cnty Bank
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SBA Loan from South Cnty Bank Helps Full-Service Restaurants CompanyAn SBA loan from South Cnty Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rancho Santa Margarita, California business owner got a $49,700 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rancho Santa Margarita, California was able to borrow $49,700 from South Cnty Bank. The SBA made the loan possible by guaranteeing $42,245 of this California small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SOUTH CNTY BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/6/2002 Loan Approval Gross Amount $49,700 Loan Approval from the SBA Of the total $49,700 loan amount, the SBA guaranteed $42,245. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: How Much Venture Capital Is There? Small Bank Loans in Rancho Santa Margarit, California
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