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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 > Ornamental And Architectural Metal Work Manufacturing Loan | ||||
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SBA Lender Long Beach
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Entrepreneur Works With Long Beach, California Bank to Get an SBA LoanA Long Beach, California business loan can be yours. Learn how a business got a $874,000 business loan from this California bank. This loan to an entrepreneur is a good example of an SBA loan. Internatl City Bank made the loan and the SBA guaranteed a portion of the loan. Many other California entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: ORNAMENTAL AND ARCHITECTURAL METAL WORK MANUFACTURING SBA Loan Lender INTERNATL CITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332323 - Ornamental and Architectural Metal Work Manufacturing Loan Approval Date 3/28/2003 Loan Approval Gross Amount $874,000 Loan Approval from the SBA Of the total $874,000 loan amount, the SBA guaranteed $655,500. 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 25 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 27 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. 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 Internatl City 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: Small Bank Loans in Long Beach, California Where to Get an SBA Loan California
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