Manhattan Beach, California Bank Lends Money to Fruit And Vegetable Canning Company in Commerce, California

Thinking about meeting with a Manhattan Beach, California bank about a small business loan? Here's one California business loan, issued by a Manhattan Beach bank, that was approved by the SBA.

Applying for an SBA loan with Beach Business Bank worked out well for our friends at one local business in Commerce, California. They got an SBA loan for $250,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: FRUIT AND VEGETABLE CANNING
COMMERCE, CA 90040

SBA Loan Lender

BEACH BUSINESS BANK
1230 ROSECRANS AVE, STE 100
MANHATTAN BEACH, CA 90266

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

311421 - Fruit and Vegetable Canning

Loan Approval Date

2/16/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 12 employees. The loan application indicated that the loan would help retain 12 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Beach Business Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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