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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Downey, Business Loans > Banco Popular North America Downey Business Loans > Drycleaning And Laundry Services Loan | ||||
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SBA Lenders California
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Entrepreneur Works With Downey, California Bank to Get an SBA LoanWant to talk with a Downey, California bank about a business loan? Here's one California business loan, issued by a Downey bank, that was approved by the SBA. Applying for an SBA loan with Banco Popular North America worked out well for our friends at one local firm in Citrus Heights, California. They got an SBA loan for $651,500. Nice! SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender BANCO POPULAR NORTH AMERICA The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 4/2/2004 Loan Approval Gross Amount $651,500 Loan Approval from the SBA Of the total $651,500 loan amount, the SBA guaranteed $488,625. 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 6 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $651,500 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Approved Banks in Downey, California
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