Montecito Bank & Trust SBA Loan to Tour Operators Company

An SBA loan from Montecito Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Santa Barbara, California business owner got a $50,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Barbara, California was able to borrow $50,000 from Montecito Bank & Trust. The SBA made the loan possible by guaranteeing $25,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: TOUR OPERATORS
SANTA BARBARA, CA 93101

SBA Loan Lender

MONTECITO BANK & TRUST
1000 STATE ST
SANTA BARBARA, CA 93101

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

561520 - Tour Operators

Loan Approval Date

10/2/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Montecito Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Small Business Credit Cards

Banks in Santa Barbara, California

SBA Participating Banks in California