Getting an SBA Loan for Amusement Arcades

With these business loans for amusement arcades, the SBA guarantees the lender that the loan will be repaid. This amusement arcades loan for $296,100 was given to a California entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Pacific Cap. Bank, out of Santa Barbara, California. The loan was granted and they received $296,100 to help grow their Lake Forest, California business.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT ARCADES
LAKE FOREST, CA 92630

SBA Loan Lender

PACIFIC CAP. BANK
1021 ANACAPA ST
SANTA BARBARA, CA 93101

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

713120 - Amusement Arcades

Loan Approval Date

7/17/2002

Loan Approval Gross Amount

$296,100

Loan Approval from the SBA

Of the total $296,100 loan amount, the SBA guaranteed $222,075.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $296,100 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 Cash Advances

SBA 7A Lenders in Santa Barbara, California

California SBA 7A Banks