SBA Loan from Gbc International Bank Helps Food Service Contractors Company

An SBA loan from Gbc International Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a San Pedro, California business owner got a $35,000 loan.

Getting a small business loan in San Pedro, California was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Gbc International Bank, operating out of Monterey Park, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD SERVICE CONTRACTORS
SAN PEDRO, CA 90731

SBA Loan Lender

GBC INTERNATIONAL BANK
168 W GARVEY AVE
MONTEREY PARK, CA 91754

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722310 - Food Service Contractors

Loan Approval Date

9/28/2001

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in San Pedro CA, you ought to talk with a local San Pedro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to San Pedro businesses.

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:

SBIR Funding

Where to Get an SBA Loan in Monterey Park, California

California SBA 7A Lenders