Where to Get Capital for Medicinal and Botanical Manufacturing

With these SBA loans for medicinal and botanical manufacturing, the SBA guarantees the lender that the loan will be repaid. This medicinal and botanical manufacturing loan for $150,000 was given to a California entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Atascadero, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Mission Community Bank, based in San Luis Obispo, California.

SBA Loan Borrower

COMPANY TYPE: MEDICINAL AND BOTANICAL MANUFACTURING
ATASCADERO, CA 93422

SBA Loan Lender

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

This lender provides SBA commercial 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

325411 - Medicinal and Botanical Manufacturing

Loan Approval Date

4/28/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Mission Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Credit Evaluation

SBA Banks in San Luis Obispo, California

SBA California Banks