Business Loan from Mission Oaks National Bank Given to Continuing Care Retirement Communities Company

An SBA loan from Mission Oaks National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bakersfield, California business owner got a $1,280,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bakersfield, California was able to borrow $1,280,500 from Mission Oaks National Bank. The SBA made the loan possible by guaranteeing $960,375 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CONTINUING CARE RETIREMENT COMMUNITIES
BAKERSFIELD, CA 93307

SBA Loan Lender

MISSION OAKS NATIONAL BANK
41530 ENTERPRISE CIR, STE 100
TEMECULA, CA 92590

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623311 - Continuing Care Retirement Communities

Loan Approval Date

9/28/2005

Loan Approval Gross Amount

$1,280,500

Loan Approval from the SBA

Of the total $1,280,500 loan amount, the SBA guaranteed $960,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 23 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

We can help you find the best banks for small businesses in Bakersfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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 Incubators

SBA 7A Banks in Temecula, California

Getting an SBA Loan in California