San Marcos, CA Entrepreneur Gets SBA Loan to Buy Dry Cleaning Station Franchise

Borrowing money to purchase a Dry Cleaning Station franchise? Internatl City Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near San Marcos, California and are interested in buying a Dry Cleaning Station franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Internatl City Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

APEX CLEANERS
SAN MARCOS, CA 92069

SBA Loan Lender

INTERNATL CITY BANK
249 E OCEAN BLVD
LONG BEACH, CA 90802

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

3/15/2005

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dry Cleaning Station franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Dry Cleaning Station

Business Credit Evaluation

Where to Get an SBA Loan in Long Beach, California

California SBA 7A Banks