Raising Money for Industrial Launderers

With these business loans for industrial launderers, the SBA guarantees the lender that the loan will be repaid. This industrial launderers loan for $760,000 was given to a California entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Oxnard, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First California Bank, based in Oxnard, California.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL LAUNDERERS
OXNARD, CA 93030

SBA Loan Lender

FIRST CALIFORNIA BANK
300 ESPLANADE DR, STE 102
OXNARD, CA 93030

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812332 - Industrial Launderers

Loan Approval Date

11/8/2001

Loan Approval Gross Amount

$760,000

Loan Approval from the SBA

Of the total $760,000 loan amount, the SBA guaranteed $570,000.

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 88 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First California Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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