Redondo Beach, California Bank Lends Money to Store Retailers Company in West Hollywood, California

Find Redondo Beach, California banks that specialize in SBA loans and know how to work with entrepreneurs. Bay Cities National Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in West Hollywood, California starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Bay Cities National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
WEST HOLLYWOOD, CA 90069

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 SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

6/20/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bay Cities National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bay Cities National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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