Entrepreneur Works With Corona, California Bank to Get an SBA Loan

Get to know 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 a growing company.

Finding a small business loan in Murrieta, California starts with an understanding of who else has gotten loans in the area. In this case, a local small business 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: FURNITURE STORES
MURRIETA, CA 92562

SBA Loan Lender

VINEYARD BANK
1260 CORONA POINTE CT
CORONA, CA 92879

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

10/4/2005

Loan Approval Gross Amount

$1,240,000

Loan Approval from the SBA

Of the total $1,240,000 loan amount, the SBA guaranteed $930,000.

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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Vineyard Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Accountant's Role in Securing Financing

SBA Banks in Corona, California

California SBA Bank Lenders