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May 2, 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 > Electrical Appliances, Television And Radio Sets Loan | ||||
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Business Loans for San Luis Obispo Business Owners
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Electrical Appliance, Television, and Radio Set Wholesalers Small Business LoansWith these small business loans for electrical appliance, television, and radio set wholesalers, the SBA guarantees the lender that the loan will be repaid. This electrical appliance, television, and radio set wholesalers loan for $100,000 was given to a California entrepreneur in 2000. This small firm knew how to go about getting a business bank loan. Based in San Luis Obispo, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Mission Community Bank, based in San Luis Obispo, California. SBA Loan Borrower COMPANY TYPE: ELECTRICAL APPLIANCES, TELEVISION AND RADIO SETS SBA Loan Lender MISSION COMMUNITY BANK This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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. SIC Code 5064 - Electrical Appliances, Television and Radio Sets NAICS Code 421620 - Electrical Appliance, Television, and Radio Set Wholesalers Loan Approval Date 3/10/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $75,000. 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, if it to be, it is up to me! 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: Raising VC Money for Social Networking Companies Best Banks for Small Business in San Luis Obispo, California
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