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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 > Architectural Services Loan | ||||
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Marina Del Ray Business Loan from Bay Cities National Bank
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Marina Del Ray, California Business Gets SBA-Guaranteed Funding from Bay Cities National BankBay Cities National 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. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bay Cities National Bank, out of Redondo Beach, California. The loan was granted and they received $1,710,000 to help grow their Marina Del Ray, California business. SBA Loan Borrower COMPANY TYPE: ARCHITECTURAL SERVICES SBA Loan Lender BAY CITIES NATIONAL 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 541310 - Architectural Services Loan Approval Date 8/6/2003 Loan Approval Gross Amount $1,710,000 Loan Approval from the SBA Of the total $1,710,000 loan amount, the SBA guaranteed $999,990. 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 17 employees. The SBA loan application for the borrower indicated that the loan would help retain 17 existing jobs. Next Steps for Getting an SBA Loan If you are raising money in Marina Del Ray CA, you ought to talk with a local Marina Del Ray SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Marina Del Ray businesses. 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 Bay Cities National 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: Who Lends Money to Small Businesses in Redondo Beach, California
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