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April 27, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Manhattan Beach, Business Loans > Beach Business Bank Manhattan Beach Business Loans > Electrical Contractors And Wiring Installation Contractors Loan | ||||
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SBA Lenders in Long Beach, California
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SBA Loan from Beach Business Bank Helps Electrical Contractors And Wiring Installation Contractors CompanyAn SBA loan from Beach Business Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Long Beach, California business owner got a $150,000 loan. This growing company knew how to go about getting a business bank loan. Based in Long Beach, California, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Beach Business Bank, based in Manhattan Beach, California. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS SBA Loan Lender BEACH BUSINESS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 4/17/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 indicated that the loan would help generate 3 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Beach Business Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Participating Banks in Manhattan Beach, California
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