Bay Cities National Bank SBA Loan to Homefurnishings Company

Bay Cities National Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Torrance, California, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bay Cities National Bank, based in Redondo Beach, California.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS
TORRANCE, CA 90501

SBA Loan Lender

BAY CITIES NATIONAL BANK
1333 S PACIFIC COAST HWY
REDONDO BEACH, CA 90277

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5023 - Homefurnishings

Loan Approval Date

7/11/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 3 employees. This SBA loan request indicated that the borrowed money would help create 3 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $200,000. How would you spend $200,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Financing Your Business

Small Business Banks in Redondo Beach, California

California SBA 7A Banks