Loans for Commercial Bakeries

With these loans for commercial bakeries, the SBA guarantees the lender that the loan will be repaid. This commercial bakeries loan for $650,000 was given to a California entrepreneur in 2001.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Internatl City Bank, out of Long Beach, California. The loan was granted and they received $650,000 to help grow their Carson, California business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL BAKERIES
CARSON, CA 90746

SBA Loan Lender

INTERNATL CITY BANK
249 E OCEAN BLVD
LONG BEACH, CA 90802

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

6/27/2001

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 85 employees. The SBA loan documents indicated that the loan would help retain 85 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Role of Business Plan When Raising Money

Find an SBA Lender in Long Beach, California

SBA Participating Banks in California