Growing Company Gets a California Business Loan

CaliforniaBank loans are available to California firms through the SBA. In this case, a California bank provides the loan.

This company, based in Huntington Beach, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Internatl City Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD OFFICE FURNITURE MANUFACTURING
HUNTINGTON BEACH, CA 92649

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337211 - Wood Office Furniture Manufacturing

Loan Approval Date

7/9/2003

Loan Approval Gross Amount

$1,295,000

Loan Approval from the SBA

Of the total $1,295,000 loan amount, the SBA guaranteed $971,250.

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 35 employees. The SBA loan documents indicated that the loan would help retain 35 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Internatl City 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.

Related Links:

Debt Financing

SBA Banks in Long Beach, California

SBA Participating Banks in California