How to Get a Loan for Homes for the Elderly

Looking for business loans for homes for the elderly? The SBA may be the answer. This $115,000 homes for the elderly loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Salinas, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Monterey County Bank, based in Monterey, California.

SBA Loan Borrower

COMPANY TYPE: HOMES FOR THE ELDERLY
SALINAS, CA 93901

SBA Loan Lender

MONTEREY COUNTY BANK
601 MUNRAS AVE
MONTEREY, CA 93940

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

6/4/2007

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Monterey County 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.

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