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December 22, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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Business Loans for Dallas Small Businesses
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Small Business Loans for Coin-Operated Laundries and DrycleanersLooking for small business loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $180,000 coin-operated laundries and drycleaners loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dallas, Texas was able to borrow $180,000 from Wilshire State Bank. The SBA made the loan possible by guaranteeing $135,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender WILSHIRE STATE 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 2/7/2002 Loan Approval Gross Amount $180,000 Loan Approval from the SBA Of the total $180,000 loan amount, the SBA guaranteed $135,000. 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. Next Steps for Getting an SBA Loan 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wilshire State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wilshire State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Find an SBA Lender in California
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