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April 27, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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Raising Money in Atlanta, Georgia With SBA Loans
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Coin-Operated Laundries and Drycleaners Bank LoansWith these bank loans for coin-operated laundries and drycleaners, the SBA guarantees the lender that the loan will be repaid. This coin-operated laundries and drycleaners loan for $380,000 was given to a Georgia entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Atlanta, Georgia was able to borrow $380,000 from Center Bank. The SBA made the loan possible by guaranteeing $285,000 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender CENTER BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 6/29/2007 Loan Approval Gross Amount $380,000 Loan Approval from the SBA Of the total $380,000 loan amount, the SBA guaranteed $285,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Los Angeles, California
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