SBA Loan from Beach Business Bank Helps Remediation Services Company
Beach Business Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Torrance, California was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Beach Business Bank, operating out of Manhattan Beach, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: REMEDIATION SERVICES
TORRANCE, CA 90502
SBA Loan Lender
BEACH BUSINESS BANK
1230 ROSECRANS AVE, STE 100
MANHATTAN BEACH, CA 90266
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
562910 - Remediation Services
Loan Approval Date
11/9/2006
Loan Approval Gross Amount
$2,000,000
Loan Approval from the SBA
Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 370 employees. This SBA loan request indicated that the loan would help retain 370 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you need business start up money 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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Beach Business 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:
Direct Public Offerings
Banks in Manhattan Beach, California
SBA Participating Banks in California