California Bank Loan Issued to Store Retailers Company

CaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, a California bank provides the loan.

This company, based in San Luis Obispo, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Bank - San Luis Obispo A D. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
SAN LUIS OBISPO, CA 93401

SBA Loan Lender

FIRST BANK - SAN LUIS OBISPO A D
995 HIGUERA ST
SAN LUIS OBISPO, CA 93401

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

453998 - Store Retailers

Loan Approval Date

11/23/2004

Loan Approval Gross Amount

$756,000

Loan Approval from the SBA

Of the total $756,000 loan amount, the SBA guaranteed $567,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Bank - San Luis Obispo A D 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.

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