Hanmi Bank Gives Small Business Loan to Coin-Operated Laundries And Drycleaners Company

Want a California small business loan? This California entrepreneur got a small business loan, provided by a California bank that works with the SBA to help small business owners.

Getting a small business loan in Buena Park, California was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Hanmi Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
BUENA PARK, CA 90621

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, PH-A
LOS ANGELES, CA 90010

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

3/19/2004

Loan Approval Gross Amount

$102,500

Loan Approval from the SBA

Of the total $102,500 loan amount, the SBA guaranteed $51,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Hanmi Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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