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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Long Beach, Business Loans > Internatl City Bank Long Beach Business Loans > General Automotive Repair Loan | ||||
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Long Beach Lenders
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Long Beach, California Bank Gives SBA Loan to General Automotive Repair CompanyThinking about meeting with a Long Beach, California bank about a business loan? Here's one California business loan, issued by a Long Beach bank, that was approved by the SBA. Applying for an SBA loan with Internatl City Bank worked out well for our friends at one local business in Los Angeles, California. They got an SBA loan for $100,000. Way to go! SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender INTERNATL CITY BANK This lender provides SBA guaranteed bank 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 811111 - General Automotive Repair Loan Approval Date 10/18/2002 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 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 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Internatl City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Internatl City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Banks in Long Beach, California Getting an SBA Loan in California
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