Business Loan from Service 1st Bank Given to Drycleaning Plants Company

An SBA loan from Service 1st Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stockton, California business owner got a $421,000 loan.

Getting a small business loan in Stockton, California was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Service 1st Bank, operating out of Stockton, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
STOCKTON, CA 95204

SBA Loan Lender

SERVICE 1ST BANK
2800 W MARCH LN, STE 120
STOCKTON, CA 95219

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7216 - Drycleaning Plants

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

10/31/2002

Loan Approval Gross Amount

$421,000

Loan Approval from the SBA

Of the total $421,000 loan amount, the SBA guaranteed $315,750.

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 18 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Service 1st 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.

Related Links:

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SBA Participating Banks in Stockton, California

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