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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Commonwealth Business Bank Los Angeles Business Loans > Drycleaning And Laundry Services Loan | ||||
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Banks for Small Businesses in California
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California SBA Loan Issued to Drycleaning And Laundry Services CompanyLooking to get a California business loan? This California entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners. Getting a small business loan in Los Angeles, California was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Commonwealth Business Bank. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender COMMONWEALTH BUSINESS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 3/31/2006 Loan Approval Gross Amount $1,185,000 Loan Approval from the SBA Of the total $1,185,000 loan amount, the SBA guaranteed $888,750. 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Small Bank Loans in Los Angeles, California
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