Where to Get Capital for Single Family Housing Construction

Looking for small business loans for single family housing construction? The SBA may be the answer. This $352,500 single family housing construction loan was issued by a California bank.

This company knew how to go about getting a business bank loan. Based in Redondo Beach, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Bank, based in Huntington Beach, California.

SBA Loan Borrower

COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION
REDONDO BEACH, CA 90278

SBA Loan Lender

FIRST BANK
16900 GOLDENWEST ST
HUNTINGTON BEACH, CA 92647

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1521 - Single-Family Housing Construction

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

4/6/2000

Loan Approval Gross Amount

$352,500

Loan Approval from the SBA

Of the total $352,500 loan amount, the SBA guaranteed $264,375.

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 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 First 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:

Alternative Financing

Good Banks for Small Business in Huntington Beach, California

California SBA 7A Banks