Local Business Gets a California SBA Loan

Business loans in California are tough to come by these days. We take a look at one California business loan, provided by a California bank, that was approved by the SBA.

Getting a small business loan in Avalon, California was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Vineyard Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
AVALON, CA 90704

SBA Loan Lender

VINEYARD BANK
1260 CORONA POINTE CT
CORONA, CA 92879

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

441229 - Motor Vehicle Dealers

Loan Approval Date

3/8/2006

Loan Approval Gross Amount

$103,600

Loan Approval from the SBA

Of the total $103,600 loan amount, the SBA guaranteed $88,060.

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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Avalon CA, you ought to talk with a local Avalon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Avalon businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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