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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 > Advertising Agencies Loan | ||||
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Small Business Banks in California
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Advertising Agencies Business LoansWith these business loans for advertising agencies, the SBA guarantees the lender that the loan will be repaid. This advertising agencies loan for $500,000 was given to a California entrepreneur in 2003. This business knew how to go about getting a business bank loan. Based in Torrance, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bay Cities National Bank, based in Redondo Beach, California. SBA Loan Borrower COMPANY TYPE: ADVERTISING AGENCIES SBA Loan Lender BAY CITIES NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541810 - Advertising Agencies Loan Approval Date 1/29/2003 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 21 employees. The SBA loan documents indicated that the loan would help create 10 new jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bay Cities National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 SBA Participating Banks in California
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