Business Loans for Drycleaning and Laundry Services

Looking for business loans for drycleaning and laundry services? An SBA loan may be just what you've been looking for. This $70,000 drycleaning and laundry services loan was issued by a California bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Hanmi Bank, out of Los Angeles, California. The loan was granted and they received $70,000 to help grow their Sherman Oaks, California business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
SHERMAN OAKS, CA 91423

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, PH-A
LOS ANGELES, CA 90010

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

9/26/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Sherman Oaks CA, you ought to talk with a local Sherman Oaks SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sherman Oaks businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $70,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Getting a Small Business Loan

Small Business Banks in Los Angeles, California

California SBA Banks