Mendocino, California Business Gets SBA-Guaranteed Funding from Sterling Savings Bank

An SBA loan from Sterling Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mendocino, California business owner got a $1,612,500 loan.

Getting a small business loan in Mendocino, California was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Sterling Savings Bank, operating out of Santa Rosa, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
MENDOCINO, CA 95460

SBA Loan Lender

STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404

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

721110 - Hotels and Motels

Loan Approval Date

6/28/2002

Loan Approval Gross Amount

$1,612,500

Loan Approval from the SBA

Of the total $1,612,500 loan amount, the SBA guaranteed $999,991.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Mendocino 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:

Microlending as a Small Business Funding Source

Find an SBA Lender in Santa Rosa, California

California SBA 7A Lenders