Corona, California Bank Gives SBA Loan to Full-Service Restaurants Company

Find Corona, California banks that specialize in small business loans and know how to work with entrepreneurs. Vineyard Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Chula Vista, California starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Vineyard Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CHULA VISTA, CA 91911

SBA Loan Lender

VINEYARD BANK
1260 CORONA POINTE CT
CORONA, CA 92879

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/25/2003

Loan Approval Gross Amount

$559,900

Loan Approval from the SBA

Of the total $559,900 loan amount, the SBA guaranteed $419,925.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Vineyard Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Vineyard Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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