Bank Loans for Interior Design Services

With these bank loans for interior design services, the SBA guarantees the lender that the loan will be repaid. This interior design services loan for $100,000 was given to a California entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bay Cities National Bank, out of Redondo Beach, California. The loan was granted and they received $100,000 to help grow their Torrance, California business.

SBA Loan Borrower

COMPANY TYPE: INTERIOR DESIGN SERVICES
TORRANCE, CA 90505

SBA Loan Lender

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

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

541410 - Interior Design Services

Loan Approval Date

8/16/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Torrance CA, you ought to talk with a local Torrance SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Torrance businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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