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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Luis Obispo, Business Loans > Mission Community Bank San Luis Obispo Business Loans > Full-Service Restaurants Loan | ||||
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Mission Community Bank
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Shell Beach, California Business Gets SBA-Guaranteed Funding from Mission Community BankAn SBA loan from Mission Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Shell Beach, California business owner got a $205,500 loan. This business knew how to go about getting a business bank loan. Based in Shell Beach, California, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Mission Community Bank, based in San Luis Obispo, California. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender MISSION COMMUNITY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/23/2003 Loan Approval Gross Amount $205,500 Loan Approval from the SBA Of the total $205,500 loan amount, the SBA guaranteed $154,125. 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 32 employees. The SBA loan application for the borrower indicated that the loan would help retain 32 existing jobs. Getting an SBA Loan For Your Business 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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mission Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mission Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Good Banks for Small Business in San Luis Obispo, California Where to Get an SBA Loan California
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