San Luis Obispo, California Bank Gives SBA Loan to Aluminum Extruded Product Manufacturing Company

Get SBA loans from a San Luis Obispo, California bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Mission Community Bank is a San Luis Obispo, California small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a California company.

SBA Loan Borrower

COMPANY TYPE: ALUMINUM EXTRUDED PRODUCT MANUFACTURING
SANTA MARGARITA, CA 93453

SBA Loan Lender

MISSION COMMUNITY BANK
581 HIGUERA ST
SAN LUIS OBISPO, CA 93401

When this loan was made, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to offer quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331316 - Aluminum Extruded Product Manufacturing

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$645,500

Loan Approval from the SBA

Of the total $645,500 loan amount, the SBA guaranteed $484,125.

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 5 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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