Loan Census Banking News and Information
March 29, 2024  
 
 
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Redondo Beach Bank Loan

 

 
Loan Census SBA Loan Info

Redondo Beach, California Bank Gives SBA Loan to Carpet And Upholstery Cleaning Services Company

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

Finding a small business loan in San Pedro, California starts with an understanding of who else has gotten loans in the area. In this case, a local firm 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: CARPET AND UPHOLSTERY CLEANING SERVICES
SAN PEDRO, CA 90731

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

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

12/9/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 5 employees. The SBA loan documents indicated that the funding would help generate 5 new jobs.

Getting an SBA Loan For Your Business

If you are raising money in San Pedro CA, you ought to talk with a local San Pedro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to San Pedro businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Incubators

Best Banks for Small Business in Redondo Beach, California

California SBA Bank Lenders