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April 18, 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 > Direct Selling Establishments Loan | ||||
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SBA Lenders in Santa Margarita
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Business Loan from Mission Community Bank Given to Direct Selling Establishments CompanyMission Community Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Margarita, California was able to borrow $186,800 from Mission Community Bank. The SBA made the loan possible by guaranteeing $140,100 of this California small business loan. SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender MISSION COMMUNITY BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 2/27/2004 Loan Approval Gross Amount $186,800 Loan Approval from the SBA Of the total $186,800 loan amount, the SBA guaranteed $140,100. 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 5 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Mission Community Bank 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. Related Links: SBA Banks in San Luis Obispo, California
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