Raising Money for Land Subdivision and Land Development

Looking for business loans for land subdivision and land development? The SBA may be the answer. This $420,000 land subdivision and land development loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Morro Bay, California was able to borrow $420,000 from Coast National Bank. The SBA made the loan possible by guaranteeing $315,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LAND SUBDIVISION AND LAND DEVELOPMENT
MORRO BAY, CA 93442

SBA Loan Lender

COAST NATIONAL BANK
500 MARSH ST
SAN LUIS OBISPO, CA 93401

This lender issued this business loan under the SBA 7A lending 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

233110 - Land Subdivision and Land Development

Loan Approval Date

9/10/2001

Loan Approval Gross Amount

$420,000

Loan Approval from the SBA

Of the total $420,000 loan amount, the SBA guaranteed $315,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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