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December 22, 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 > Full-Service Restaurants Loan | ||||
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Internatl City Bank
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San Diego, California Business Gets SBA-Guaranteed Funding from Internatl City BankAn SBA loan from Internatl City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a San Diego, California business owner got a $500,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Internatl City Bank, out of Long Beach, California. The loan was granted and they received $500,000 to help grow their San Diego, California business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender INTERNATL CITY BANK This lender provides SBA 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 722110 - Full-Service Restaurants Loan Approval Date 10/24/2003 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 27 employees. The loan application indicated that the loan would help generate 13 new jobs and retain 40 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Internatl City Bank and they will explain how you can get an SBA loan for your company. 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 Long Beach, California
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