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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Redondo Beach, Business Loans > Bay Cities National Bank Redondo Beach Business Loans > Structural Steel Erection Contractors Loan | ||||
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Small Business Banks for Small Businesses in California
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El Segundo, California Entrepreneur Gets a Bank LoanCaliforniaBank loans are available to California firms through the SBA. In this case, a California bank provides the loan. This company, based in El Segundo, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bay Cities National Bank. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: STRUCTURAL STEEL ERECTION CONTRACTORS SBA Loan Lender BAY CITIES NATIONAL BANK This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a deep knowledge SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235910 - Structural Steel Erection Contractors Loan Approval Date 9/24/2002 Loan Approval Gross Amount $336,000 Loan Approval from the SBA Of the total $336,000 loan amount, the SBA guaranteed $252,000. 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 25 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bay Cities National 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: A Company That Helps Entrepreneurs SBA Approved Banks in Redondo Beach, California
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