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December 18, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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SBA Lenders in Colorado
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Raising Money for Coin-Operated Laundries and DrycleanersLooking for bank loans for coin-operated laundries and drycleaners? Try the SBA. This $105,000 coin-operated laundries and drycleaners loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Aurora, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Center Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender CENTER BANK This lender provides SBA commercial 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. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 1/23/2003 Loan Approval Gross Amount $105,000 Loan Approval from the SBA Of the total $105,000 loan amount, the SBA guaranteed $89,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Decide How Much to Raise Best Banks for Small Business in Los Angeles, California
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