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December 19, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Drycleaning And Laundry Services Loan | ||||
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Colorado Springs, Colorado Bank for SBA Loans
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Small Business Loans for Drycleaning and Laundry ServicesLooking for small business loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $83,100 drycleaning and laundry services loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Colorado Springs, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Nara Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender NARA BANK The lender provided this business 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 812320 - Drycleaning and Laundry Services Loan Approval Date 10/7/2005 Loan Approval Gross Amount $83,100 Loan Approval from the SBA Of the total $83,100 loan amount, the SBA guaranteed $41,550. 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. This SBA loan request indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Nara 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. Related Links: SBA Banks in Los Angeles, California
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