SBA Loan from First California Bank Helps Full-Service Restaurants Company

First California Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Newbury Park, California was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First California Bank, operating out of Camarillo, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NEWBURY PARK, CA 91320

SBA Loan Lender

FIRST CALIFORNIA BANK
1100 PASEO CAMARILLO
CAMARILLO, CA 93010

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/6/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First California Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Financing Your Business

Good Banks for Small Business in Camarillo, California

Getting an SBA Loan in California