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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Santa Barbara, Business Loans > Montecito Bank & Trust Santa Barbara Business Loans > Floor Covering Stores Loan | ||||
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Montecito Bank & Trust
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Santa Barbara, California Business Gets SBA-Guaranteed Funding from Montecito Bank & TrustAn SBA loan from Montecito Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Santa Barbara, California business owner got a $100,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Barbara, California was able to borrow $100,000 from Montecito Bank & Trust. The SBA made the loan possible by guaranteeing $50,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender MONTECITO BANK & TRUST This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 442210 - Floor Covering Stores Loan Approval Date 4/27/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 10 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Montecito Bank & Trust 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. Related Links: Borrowing Money from Friends and Family Best Banks in Santa Barbara, California
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