SBA Loan from Mojave Desert Bank Helps Single Family Housing Construction Company

An SBA loan from Mojave Desert Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tehachapi, California business owner got a $1,500,000 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Mojave Desert Bank, out of Mojave, California. The loan was granted and they received $1,500,000 to help grow their Tehachapi, California business.

SBA Loan Borrower

COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
TEHACHAPI, CA 93561

SBA Loan Lender

MOJAVE DESERT BANK
15773 'K' ST
MOJAVE, CA 93501

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

8/16/2002

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $990,000.

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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, 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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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