Hagatna, Business Gets SBA-Guaranteed Funding from Citizens Security Bank (guam) In

Citizens Security Bank (guam) In and the SBA work together to get business loans for growing small businesses. Here's an example of how a entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hagatna, was able to borrow $111,000 from Citizens Security Bank (guam) In. The SBA made the loan possible by guaranteeing $94,350 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL BAKERIES
HAGATNA, GU 96932

SBA Loan Lender

CITIZENS SECURITY BANK (GUAM) IN
424 W O'BRIEN DR, 114 JULALE
AGANA, GU 96910

This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

4/23/2002

Loan Approval Gross Amount

$111,000

Loan Approval from the SBA

Of the total $111,000 loan amount, the SBA guaranteed $94,350.

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. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 Citizens Security Bank (guam) In 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.

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