Internatl City Bank Provides SBA Loan to Buy Line-X Franchise

Need a loan to purchase a Line-X franchise? Internatl City Bank has a history of making these loans and they are guaranteed by the SBA.

Line-X franchise loans are available to Huntington Beach, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Internatl City Bank, based in Long Beach, California, issued an SBA franchise loan for a Line-X franchise in 2004. We've got all the details on this California small business loan.

SBA Loan Borrower

LINE-X PROTECTIVE COATINGS
HUNTINGTON BEACH, CA 92648

SBA Loan Lender

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

This lender provides SBA commercial 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

811198 - Automotive Repair and Maintenance

Loan Approval Date

6/15/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Line-X franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Internatl City 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.

Related Links:

Line-X Corp.

Family and Friend Investors - Your First Financiers

SBA 7A Banks in Long Beach, California

Getting an SBA Loan in California