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Beach Business Bank Achieves Nationwide SBA Preferred Lender Status.


MANHATTAN BEACH Manhattan Beach, city (1990 pop. 32,063), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1912. It is a residential and beach community with an oil refinery and nearby factories that produce transportation and electrical equipment, computers, and pottery. , Calif. -- Beach Business Bank (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:BBBC BBBC Bromley by Bow Centre (pioneering regeneration project in the East End of London)
BBBC Brass Band of Battle Creek (Battle Creek, MI)
BBBC British Board of Boxing Control
) today announced that it has achieved "Preferred Lender" status nationwide under the SBA's Preferred Lender Program (PLP (Presentation Level Protocol) A North American standard protocol for videotex. ). Designation as a Preferred Lender is the highest lending designation granted by the SBA SBA
abbr.
Small Business Administration

Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government
. The authority granted to PLP lenders shortens the time it takes to get a loan approved and funded.

"Preferred Lender status is the SBA's premier accreditation," said Robert Franko, president and chief executive officer of Beach Business Bank. "As a nationwide Preferred Lender, we can now offer this higher level of service to our business clientele throughout the United States. This is especially important for our healthcare clients, who deal with The Doctors Bank division of Beach Business Bank."

Beach Business Bank has quickly made a name for itself, starting in June of 2004 with a little more than $10 million in assets and growing to more than $90 million by the end of March 2006. Beach Business Bank also reported profitable operations starting in the fourth quarter of 2005.

Beach Business Bank is headquartered at 1230 Rosecrans Avenue, Lobby Level, in Manhattan Beach, and has a second full-service branch at 180 East Ocean Boulevard, Lobby Level, in Long Beach, CA.

For more information on the Bank, please visit www.beachbusinessbank.com or call 866-862-3878 or 310-536-2260; and in Long Beach, call 562-435-8600.

"Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
" statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995:

The financial information in this press release is based on our unaudited financial results. Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief, and current expectations of the Bank, its directors, or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements are subject to risks and uncertainties and therefore the Bank's actual results may differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that the Bank is subject to include, but are not limited to, risks related to the local and national economy, including fluctuations in interest rates and costs and changes in economic policy; the ability of the Bank to perform in accordance with its plans; competition; regulatory matters; and other risks detailed in its filings with the State of California Department of Financial Institutions and the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. . The Bank cautions readers not to place undue reliance on any forward-looking statements. The Bank does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 8, 2006
Words:443
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