Arroyo Grande, California Entrepreneur Gets a Small Business Loan

Bank loans in California are are few and far betweeen these days. We take a look at one California bank loan, provided by a California bank, that was approved by the SBA.

You can learn something about getting a small business loan in Arroyo Grande, California by studying this loan to a local company, made back in 2001. Banks like Mission Community Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
ARROYO GRANDE, CA 93420

SBA Loan Lender

MISSION COMMUNITY BANK
581 HIGUERA ST
SAN LUIS OBISPO, CA 93401

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/12/2001

Loan Approval Gross Amount

$864,000

Loan Approval from the SBA

Of the total $864,000 loan amount, the SBA guaranteed $381,024.

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 25 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Mission Community Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Obtaining Funding - How to Decide How Much to Raise

Good Banks for Small Business in San Luis Obispo, California

Browse All Business Loan Sources for California