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December 22, 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 > Professional, Scientific, And Technical Services Loan | ||||
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SBA Lenders in California
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Commercial Loans for Professional, Scientific, and Technical ServicesLooking for commercial loans for professional, scientific, and technical services? The SBA may be the answer. This $30,000 professional, scientific, and technical services loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Redondo Beach, California was able to borrow $30,000 from Bay Cities National Bank. The SBA made the loan possible by guaranteeing $15,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES SBA Loan Lender BAY CITIES NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 541990 - Professional, Scientific, and Technical Services Loan Approval Date 5/8/2006 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bay Cities National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks in Redondo Beach, California
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