Redondo Beach, California Business Gets SBA-Guaranteed Funding from Internatl City Bank

An SBA loan from Internatl City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Redondo Beach, California business owner got a $228,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Internatl City Bank, out of Long Beach, California. The loan was granted and they received $228,000 to help grow their Redondo Beach, California business.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
REDONDO BEACH, CA 90277

SBA Loan Lender

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

This lender provides SBA business 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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

2/13/2002

Loan Approval Gross Amount

$228,000

Loan Approval from the SBA

Of the total $228,000 loan amount, the SBA guaranteed $171,000.

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 3 employees. The loan application indicated that the borrowed money would help create 1 new job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Getting a Small Business Loan

Small Business Banks in Long Beach, California

SBA Participating Banks in California