The U.S. Small Business Administration awarded 10 San Luis Obispo County companies more than $1 million in loans in the fiscal year that ended Sept. 30.
Of these, four businesses were awarded more than $2 million each, according to data provided by the local SBA district office. That's up from the 2011-12 fiscal year when 10 businesses received SBA loans of more than $1 million, but only one, the Arroyo Grande Veterinary Clinic, borrowed more than $2 million.
This year, Briar Rose Estates LLC, which is affiliated with R.H. Newdoll Construction, was the largest borrower in the county, taking out eight SBA loans for a total of more than $3.12 million between Oct. 1, 2012, and Sept. 30, 2013.
It was also one of the top borrowers in the previous fiscal year, with six loans totaling $1.92 million.
Realtor Nancy Puder, who manages the firm's communications, declined to share how Newdoll is using the nearly $5 million in funds, though the company’s website lists “Briar Rose” as one of several housing developments the company manages.
The next largest borrower in the county was the Shirley M. Barratt Trust, with $2.86 million in SBA loans this fiscal year.
The majority of the money went to refinancing Ingleside Assisted Living in Atascadero, said facility co-founder Shirley Barratt, for whom the trust is named.
Ingleside, which opened in 2008, sits on a three-acre property on West Front Road. The main building has the capacity to house about 15 individuals in need of daily care, according to its website.
A portion of the loans also went toward buying a six-room house on Mountain View Drive that Barratt said she's renovating into another assisted living facility.
“It’s a smaller, beautiful facility, with a great view of the lake — when there is a lake, of course,” she said. “We are very excited about it.”
The new facility, called Ingleside by the Lake, will open in December.
Other businesses that borrowed $1 million or more are McMillan Study Guides Inc., Seaview Inn LLC, Bulk Or Liquid Transport LLC, Sai Santram Group LP, Compli Inc., Marty R. Elisarraras and Sheil and Souza Engineering Contracting.
In all, the SBA awarded 97 loans totaling $35.6 million to small businesses in San Luis Obispo County.
The SBA offers a variety of loan options for small businesses, from debt refinancing to purchasing new equipment. It traditionally offers more favorable loan rates than other lenders, as well as lower payments and longer terms.
More information on SBA loans is available at www.sba.gov.