Mission Viejo, California Entrepreneur Gets a Bank Loan

Business loans in California are hard to find these days. We take a look at one California business loan, provided by a California bank, that was approved by the SBA.

Getting a small business loan in Mission Viejo, California was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Shinhan Bank America. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
MISSION VIEJO, CA 92691

SBA Loan Lender

SHINHAN BANK AMERICA
3000 W OLYMPIC BLVD
LOS ANGELES, CA 90006

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

11/15/2004

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $280,000. How would you spend $280,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Direct Public Offerings

Best Banks for Small Business in Los Angeles, California

California SBA 7A Lenders