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April 23, 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 > Repair Shops And Related Services Loan | ||||
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Bay Cities National Bank Business Loans
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Business Loan from Bay Cities National Bank Given to Repair Shops And Related Services CompanyBay Cities National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bay Cities National Bank, out of Redondo Beach, California. The loan was granted and they received $393,000 to help grow their Wilmington, California business. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender BAY CITIES NATIONAL BANK This SBA business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a thorough understanding of SBA policies and procedures. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services Loan Approval Date 5/25/2000 Loan Approval Gross Amount $393,000 Loan Approval from the SBA Of the total $393,000 loan amount, the SBA guaranteed $294,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $393,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Approved Banks in Redondo Beach, California
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