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December 22, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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Bronx, New York Bank Loan
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Where to Get Capital for Coin-Operated Laundries and DrycleanersLooking for SBA loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $950,000 coin-operated laundries and drycleaners loan was issued by a California bank. Getting a small business loan in Bronx, New York was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Nara Bank, operating out of Los Angeles, California. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender NARA BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 7/27/2007 Loan Approval Gross Amount $950,000 Loan Approval from the SBA Of the total $950,000 loan amount, the SBA guaranteed $712,500. 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 9 employees. The loan application indicated that the loan would help retain 9 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Nara Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Participating Banks in Los Angeles, California
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