San Luis Obispo, California Entrepreneur Gets an SBA Loan

Want a California business loan? This California entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners.

By giving the right information to Coast National Bank, this San Luis Obispo, California business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: USED HOUSEHOLD AND OFFICE GOODS MOVING
SAN LUIS OBISPO, CA 93401

SBA Loan Lender

COAST NATIONAL BANK
500 MARSH ST
SAN LUIS OBISPO, CA 93401

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

484210 - Used Household and Office Goods Moving

Loan Approval Date

1/11/2008

Loan Approval Gross Amount

$3,000

Loan Approval from the SBA

Of the total $3,000 loan amount, the SBA guaranteed $1,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 145 employees. The loan application indicated that the loan would help generate 124 new jobs and retain 145 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Coast National 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:

Microlending as a Small Business Funding Source

SBA Banks in San Luis Obispo, California

SBA California Banks