United Commercial Bank Gives SBA Loan to Industrial Launderers Company

Would a California small business loan help your small business to grow and prosper? If so, you may want to talk with this California bank, which offers SBA loans to California entrepreneurs.

Getting a small business loan in Los Angeles, California was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from United Commercial Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL LAUNDERERS
LOS ANGELES, CA 90032

SBA Loan Lender

UNITED COMMERCIAL BANK
555 MONTGOMERY ST
SAN FRANCISCO, CA 94111

This lender provides SBA business 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

812332 - Industrial Launderers

Loan Approval Date

7/6/2006

Loan Approval Gross Amount

$1,600,000

Loan Approval from the SBA

Of the total $1,600,000 loan amount, the SBA guaranteed $1,200,000.

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 225 employees. The loan application indicated that the loan would help retain 225 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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