Entrepreneur Works With Hagatna, Bank to Get an SBA Loan

Find Hagatna, banks that specialize in business loans and know how to work with entrepreneurs. The Bank Of Guam is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Tamuning, starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from The Bank Of Guam. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
TAMUNING, GU 96911

SBA Loan Lender

THE BANK OF GUAM
111 CHALAN SANTO PAPA
HAGATNA, GU 96910

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 business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

9/27/2000

Loan Approval Gross Amount

$54,200

Loan Approval from the SBA

Of the total $54,200 loan amount, the SBA guaranteed $43,360.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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.

We can help you find the best banks for small businesses in Tamuning or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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Advice on Getting a Small Business Loan