Rancho Santa Margarit, California Lender Lends Money to Limited-Service Restaurants Company
Get business loans from a Rancho Santa Margarit, California bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.
South Cnty Bank is a Rancho Santa Margarit, California small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a California company.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Murrieta, CA 92562
SBA Loan Lender
SOUTH CNTY BANK
22342 AVENIDA EMPRESA, STE A1
RANCHO SANTA MARGARIT, CA 92688
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
722211 - Limited-Service Restaurants
Loan Approval Date
12/16/2005
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $187,500.
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 only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 1 existing job.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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