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November 15, 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 > New Single-Family Housing Construction Loan | ||||
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What Does It Take to Get a Business Loan in Arroyo Grande, California?
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Financing for New Single-Family Housing ConstructionWith these commercial loans for new single-family housing construction, the SBA guarantees the lender that the loan will be repaid. This new single-family housing construction loan for $436,500 was given to a California entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arroyo Grande, California was able to borrow $436,500 from Mission Community Bank. The SBA made the loan possible by guaranteeing $327,375 of this California small business loan. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender MISSION COMMUNITY BANK This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 236115 - New Single-Family Housing Construction Loan Approval Date 11/1/2004 Loan Approval Gross Amount $436,500 Loan Approval from the SBA Of the total $436,500 loan amount, the SBA guaranteed $327,375. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: Accountant's Role in Securing Financing Best San Luis Obispo, California Banks for Small Business Find an SBA Lender in California
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