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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Redondo Beach, Business Loans > Bay Cities National Bank Redondo Beach Business Loans > Drinking Places Loan | ||||
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SBA Lenders California
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Redondo Beach, California Bank Gives SBA Loan to Drinking Places CompanyThinking about meeting with a Redondo Beach, California bank about an SBA loan? Here's one California business loan, issued by a Redondo Beach bank, that was approved by the SBA. Applying for an SBA loan with Bay Cities National Bank worked out well for our friends at one local company in Los Angeles, California. They got an SBA loan for $50,000. Sweet! SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender BAY CITIES NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 11/25/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs. 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Find an SBA Lender in Redondo Beach, California
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