Long Beach, California Business Gets SBA-Guaranteed Funding from Commonwealth Business Bank

Commonwealth Business Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Commonwealth Business Bank, out of Los Angeles, California. The loan was granted and they received $450,000 to help grow their Long Beach, California business.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
LONG BEACH, CA 90810

SBA Loan Lender

COMMONWEALTH BUSINESS BANK
5055 WILSHIRE BLVD, STE 100
LOS ANGELES, CA 90036

This SBA business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

12/27/2005

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 8 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

How to Raise Money

Small Business Banks in Los Angeles, California

Getting an SBA Loan in California