Getting an SBA Loan for Manufacturing

With these commercial loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $106,000 was given to a California entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Gardena, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Bay Cities National Bank, based in Redondo Beach, California.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
GARDENA, CA 90247

SBA Loan Lender

BAY CITIES NATIONAL BANK
1333 S PACIFIC COAST HWY
REDONDO BEACH, CA 90277

This loan for a small business was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339999 - Manufacturing

Loan Approval Date

7/23/2001

Loan Approval Gross Amount

$106,000

Loan Approval from the SBA

Of the total $106,000 loan amount, the SBA guaranteed $90,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 24 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bay Cities National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

Best Banks for Small Business in Redondo Beach, California

Find an SBA Lender in California