Commercial Loans for Sign Manufacturing

With these commercial loans for sign manufacturing, the SBA guarantees the lender that the loan will be repaid. This sign manufacturing loan for $123,000 was given to a California entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hawthorne, California was able to borrow $123,000 from Bay Cities National Bank. The SBA made the loan possible by guaranteeing $92,250 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SIGN MANUFACTURING
HAWTHORNE, CA 90250

SBA Loan Lender

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

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339950 - Sign Manufacturing

Loan Approval Date

5/24/2001

Loan Approval Gross Amount

$123,000

Loan Approval from the SBA

Of the total $123,000 loan amount, the SBA guaranteed $92,250.

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 9 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bay Cities National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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