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November 24, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Los Angeles, Business Loans > Pacific City Bank Los Angeles Business Loans > Drycleaning And Laundry Services Loan | ||||
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Banks Doing SBA Loans in California
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Los Angeles, California Bank Gives SBA Loan to Drycleaning And Laundry Services CompanyGet small business loans from a Los Angeles, California bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Pacific City Bank is a Los Angeles, California small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Virginia company. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender PACIFIC CITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 12/13/2007 Loan Approval Gross Amount $965,000 Loan Approval from the SBA Of the total $965,000 loan amount, the SBA guaranteed $723,750. 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 11 employees. The SBA loan documents indicated that the funding would help generate 11 new jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Banks in Los Angeles, California
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