SBA Loan from Mission Community Bank Helps Vending Machine Operators Company

Mission Community Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Atascadero, California was able to borrow $93,000 from Mission Community Bank. The SBA made the loan possible by guaranteeing $79,050 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
ATASCADERO, CA 93422

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

12/27/2007

Loan Approval Gross Amount

$93,000

Loan Approval from the SBA

Of the total $93,000 loan amount, the SBA guaranteed $79,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $93,000. How would you spend $93,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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 - Getting Venture Capital

SBA Banks in San Luis Obispo, California

Find an SBA Lender in California