Wilshire State Bank SBA Loan to Coin-Operated Laundries And Drycleaners Company

Wilshire State Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Georgia entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Gainesville, Georgia was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Wilshire State Bank, operating out of Los Angeles, California. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
Gainesville, GA 30501

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

3/6/2006

Loan Approval Gross Amount

$890,000

Loan Approval from the SBA

Of the total $890,000 loan amount, the SBA guaranteed $667,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

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.

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:

Understanding Dilution

Small Bank Loans in Los Angeles, California

SBA Participating Banks in California