Entrepreneur Works With Santa Barbara, California Bank to Get an SBA Loan

Thinking about meeting with a Santa Barbara, California bank about a business loan? Here's one California business loan, issued by a Santa Barbara bank, that was approved by the SBA.

Applying for an SBA loan with Montecito Bank & Trust worked out well for our friends at one local business in Goleta, California. The business was able to get an SBA loan for $75,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GOLETA, CA 93117

SBA Loan Lender

MONTECITO BANK & TRUST
1106 COAST VILLAGE RD
SANTA BARBARA, CA 93108

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/25/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $56,250.

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 15 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, anyone can do it... so why not you?

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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