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April 28, 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 > Gasoline Stations With Convenience Stores Loan | ||||
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Beach Business Bank
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Beach Business Bank SBA Loan to Gasoline Stations With Convenience Stores CompanyBeach 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 Los Angeles, California was an essential business goal for this company back in 2007 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: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender BEACH BUSINESS BANK 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 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 7/13/2007 Loan Approval Gross Amount $630,000 Loan Approval from the SBA Of the total $630,000 loan amount, the SBA guaranteed $472,500. 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 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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. Related Links: Best Banks for Small Business in Manhattan Beach, California SBA Participating Banks in California
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