Business Loan from Hanmi Bank Given to Drycleaning And Laundry Services Company

An SBA loan from Hanmi Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Benicia, California business owner got a $920,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Benicia, California was able to borrow $920,000 from Hanmi Bank. The SBA made the loan possible by guaranteeing $690,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
Benicia, CA 94510

SBA Loan Lender

HANMI BANK
3245 WILSHIRE BLVD
LOS ANGELES, CA 90010

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

812320 - Drycleaning and Laundry Services

Loan Approval Date

11/16/2006

Loan Approval Gross Amount

$920,000

Loan Approval from the SBA

Of the total $920,000 loan amount, the SBA guaranteed $690,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hanmi 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.

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