Oceanside, California is the #157 ranked city based on population. 175,710 residents live in Oceanside.
Oceanside, California SBA Loans are a type of loan issued by the Small Business Administration (SBA). It provides either term loans or working capital to qualified small businesses through banks and other private lenders.
Oceanside, California was considered a disaster area due to COVID, which allowed Oceanside small business owners and those California residents that qualified to apply.
What are Oceanside SBA Disaster Loans (EIDL and PPP)?
Oceanside, CA, and all other major cities have multiple SBA loan programs, including the popular Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP).
In Oceanside, CA news, the U.S. Small Business Administration (SBA) announced that the deadline to apply for the California Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic CA disaster declaration has been extended to December 31, 2021.
The Oceanside, California Paycheck Protection Program (PPP) deadline has already expired.
SBA loans are a type of loan given by the US government that must be paid back over a period of time. This is a low-interest debt that the Small Business Administration guarantees. This means that if the borrower defaults on their payment, the federal government will cover it to protect against loss.
These loans are popularly used in business expansion and provide an easy way for a company to receive a loan when they have trouble borrowing from banks or traditional lenders.
What are Oceanside SBA Grants?
Oceanside, California SBA grants, unlike loans, do not have to be repaid with interest fees. These grants come from several sources, including the US Department of Education and state governments / agencies that run specific grant programs designed to give employers money to assist with training and education programs.
The SBA loans are also used to recover from financial losses due to COVID and other natural disasters, such as floods, hurricanes, tornados, storms, fires, earthquakes, and other forms of natural disasters in Oceanside, California.
Grants are often awarded to help Oceanside, California small businesses offset the cost of employee training, or they can be used for start-up costs, such as new technology and equipment.
How Do SBA Disaster Loans Work in Oceanside, CA?
Oceanside, California banks and private lenders provide SBA loans to small businesses that may not qualify for traditional loans. The Small Business Administration guarantees these loans against default, helping the business obtain financing from a place they couldn’t get it before.
As the loan is guaranteed, the interest rates tend to be lower as well as monthly payments. This makes SBA loans very popular with those who need funding fast but don’t want an expensive payment plan.
In Oceanside, California, many businesses have received this SBA loan help and were able to grow their companies thanks to this assistance from the SBA in CA.
How Many Oceanside SBA Disaster Loans Can You Have?
Oceanside, California and Federal law restricts the number of SBA loans that can be issued. This is to help promote competition in the small business lending market and prevent large companies from swallowing up smaller ones.
With some exceptions, the limit for how many SBA 7(a) loans a company can have depends on how much money it has already borrowed.
How Long Do Oceanside SBA Loans Take to Process?
The Oceanside, California SBA loan process from application to final approval can take anywhere from three weeks to several months. This is because Oceanside city lenders need to make sure everything is in order before committing this size.
While every Oceanside, California company’s situation is different, it typically takes between 7 to 10 days for a company to qualify and be approved for an SBA loan. It is reported that, on average, it takes approximately 9 more days for the funds to go through once you are approved.
How to Apply for Oceanside EIDL, PPP, or SBA Loans?
In the past, a business owner would have to go through a lengthy application process and meet certain requirements before being approved for an SBA loan. Now, companies can apply online, in some cases taking less than 10 minutes.
Once you’re approved, it takes about 2 weeks for lenders to fund your account since this is how long it takes for the company’s underwriting department to review everything once they receive all of the necessary documents about you and your Oceanside, California business.
You’ll also need to allow time for any additional documentation that may come up during the approval process, which can add another week or more to this period.
How to Qualify for Grants for a Small Business in Oceanside?
Grants are given to companies through both state and federal agencies for several reasons, and based on fund availability. Most commonly, they are employed in matching grants where the company must provide some funding themselves.
Oceanside, California’s small businesses qualify based on their revenue, employees, or even employees that work within specific minority groups or low-income areas.
How to Apply for Small Business Grants in Oceanside?
A company can apply for SBA grants by filling out an application for Oceanside, California. In addition, the US government has a listing of all their available grants, including those provided through the SBA.
You’ll need to compose a proposal that explains why you qualify for the money and how much will be used to assist with your business goals. This proposal can include written proposals, presentations, or other presentation material depending on what requires.
The total amount you receive depends on how much money is available for distribution each year, and there may be different rules depending on if it’s federal or state funding.
Nearest Oceanside, CA Local SBA Office Address and Contact Information
In California, there are seven offices:
Los Angeles, CA
Palm Desert, CA
San Diego, CA
San Francisco, CA
Orange County, CA
Main SBA Assistance Office:
Los Angeles, California SBA Office
801 R Street Suite 201
California SBA Telephone and Email Contact Information:
Fresno District Office
The Fresno District Office is responsible for the delivery of SBA’s many programs and services the counties of Alpine, Fresno, Inyo, Kern, Kings, Madera, Mariposa, Merced, Mono, Monterey, San Benito, San Luis Obispo,Stanislaus, Tulare and Tuolumne in Central California.
Los Angeles, California SBA Office
312 N Spring St
Los Angeles, CA
The U.S. Small Business Administration (SBA) Los Angeles District Office (LADO) serves Los Angeles, Santa Barbara, and Ventura Counties, which have a combined population base of nearly 11.5 million residents. This tri-county service area is the nation’s top international trade and manufacturing center.
There is a diverse economic base with trade, tourism, entertainment, technology and financial services leading the way. The Ports of Long Beach and Los Angeles are the busiest in the country, and L.A. remains a powerful force in manufacturing output.
Palm Desert, California SBA Office
73733 Fred Waring Drive Suite 211
Palm Desert, CA
Sacramento, California SBA Office
6501 Sylvan Road Suite 100
Citrus Heights, CA
The Sacramento District Office covers the 21 North Eastern counties of California and has seen continuous growth in both technical assistance and loan guarantees over the last six years. The District serves close to 3.9 million people and has over 200,300 small businesses. The District Office and its strategic partners have counseled and trained over 100,000 business owners and provided loan guarantees to 6,000 businesses for a total exceeding $1 billion dollars. In fiscal year 2018, the District made loan guarantees and provided access to capital to 899 businesses for a total dollar amount of over $522 million dollars.
San Diego, California SBA Office
550 West C Street Suite 550
San Diego, CA
619-557-7250 or 619-727-4883
The San Diego District Office (SDO) of the SBA serves the two southern most counties of California: San Diego and Imperial.
San Francisco, California SBA Office
455 Market Street Suite 600
San Francisco, CA
The San Francisco District Office (SFDO) of the SBA helps Northern Californians start, build and grow businesses. SFDO serves fourteen counties in Northern California, from Santa Cruz County to the Oregon border. Counties served include: Alameda, Contra Costa, Del Norte, Humboldt, Lake, Marin, Mendocino, Napa, San Francisco, San Mateo, Santa Clara, Santa Cruz, Solano, and Sonoma.
Santa Ana, California SBA Office
5 Hutton Centre Dr Suite 900
Santa Ana, CA
714-550-7420 or TDD 800-877-8339
The SBA’s Orange County / Inland Empire District Office is responsible for the delivery of SBA’s programs and services to Orange, Riverside and San Bernardino Counties.
We take pride in providing excellent customer service in person, on the phone and via email.
We do three things very well at the Orange County/Inland Empire District Office- Inform, Educate, and Connect. We enjoy connecting you to the resources you need to start, grow and succeed!
Oceanside, CA SBA Summary and Conclusion
Oceanside, California SBA loans and grants can be a great resource for any company looking to expand its operations, and many Oceanside, California businesses have benefited from this type of SBA financing. Do you think your small business could benefit from an SBA loan? Did you already apply for one? Or, were you turned down for a PPP, EIDL, or other SBA disaster loan in Oceanside, California?
Share your thoughts in the comment section below.
Oceanside, California Small Business Help: Get Loan Assistance for Your Business in Oceanside
Was Your Oceanside SBA Disaster Loan Denied?
Has your Oceanside SBA disaster EIDL loan been denied?
We can assist you in filing for an SBA EIDL loan reconsideration appeal for your business that was affected by COVID in Oceanside, California.
Schedule Your Free Disaster Loan Consultation to see if we may be able to help your Oceanside, CA business with the SBA Loan Reconsideration Process.
Need an Increase on Your Oceanside SBA Disaster Loan?
Did you already receive an Oceanside SBA EIDL disaster loan for your business?
We can assist your Oceanside, CA business in requesting additional SBA EIDL loan funds through the increase request process.
Schedule Your Free Disaster Loan Consultation to see if we may be able to help your Oceanside, CA business with the SBA Increase Request Process.
Cover Image Credit: 123RF.com / Fizkes, IgorBondarenko / Disaster Loan Advisors.