Sun Valley, California Business Gets SBA-Guaranteed Funding from Mission Valley Bank

An SBA loan from Mission Valley Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sun Valley, California business owner got a $75,000 loan.

This business knew how to go about getting a business bank loan. Based in Sun Valley, California, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Mission Valley Bank, based in Sun Valley, California.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
SUN VALLEY, CA 91352

SBA Loan Lender

MISSION VALLEY BANK
9116 SUNLAND BLVD
SUN VALLEY, CA 91352

This 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

812320 - Drycleaning and Laundry Services

Loan Approval Date

6/7/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 3 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Sun Valley CA, you ought to talk with a local Sun Valley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sun Valley businesses.

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 Mission Valley 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:

Bank Credit Lines

Banks in Sun Valley, California

California SBA Banks