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November 24, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > Los Angeles, Business Loans > Pacific City Bank Los Angeles Business Loans > Drycleaning And Laundry Services Loan | ||||
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Nevada SBA Loan from Pacific City Bank
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Reno, Nevada Business Gets SBA-Guaranteed Funding from Pacific City BankAn SBA loan from Pacific City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Reno, Nevada business owner got a $325,000 loan. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Pacific City Bank, out of Los Angeles, California. The loan was granted and they received $325,000 to help grow their Reno, Nevada business. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender PACIFIC CITY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 10/27/2006 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. 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 14 employees. The SBA loan application for the borrower indicated that the loan would help retain 14 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pacific City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pacific City 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: Small Bank Loans in Los Angeles, California Getting an SBA Loan in California
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