Business Loan from Citizens Business Bank Given to Full-Service Restaurants Company

An SBA loan from Citizens Business Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Montrose, California business owner got a $487,500 loan.

Getting a small business loan in Montrose, California was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Citizens Business Bank, operating out of Ontario, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Montrose, CA 91020

SBA Loan Lender

CITIZENS BUSINESS BANK
701 N HAVEN AVE, STE 350
ONTARIO, CA 91764

This lender provides SBA debt financing 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

722110 - Full-Service Restaurants

Loan Approval Date

12/20/2007

Loan Approval Gross Amount

$487,500

Loan Approval from the SBA

Of the total $487,500 loan amount, the SBA guaranteed $365,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 24 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens Business Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Line of Credit

SBA 7A Banks in Ontario, California

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