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April 16, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Shinhan Bank America Los Angeles Business Loans > Laundry And Garment Services Loan | ||||
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Examples of Garden Grove SBA Loans
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Financing for Personal and Household Goods Repair and MaintenanceWith these commercial loans for personal and household goods repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This personal and household goods repair and maintenance loan for $275,000 was given to a California entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Garden Grove, California was able to borrow $275,000 from Shinhan Bank America. The SBA made the loan possible by guaranteeing $206,250 of this California small business loan. SBA Loan Borrower COMPANY TYPE: LAUNDRY AND GARMENT SERVICES SBA Loan Lender SHINHAN BANK AMERICA The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7219 - Laundry and Garment Services NAICS Code 811490 - Personal and Household Goods Repair and Maintenance Loan Approval Date 9/28/2000 Loan Approval Gross Amount $275,000 Loan Approval from the SBA Of the total $275,000 loan amount, the SBA guaranteed $206,250. 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 23 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business 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. 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 $275,000 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: Find an SBA Lender in Los Angeles, California
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