Loan Census Banking News and Information
July 20, 2024  
 
 
  Business Loan Information  
 

Acworth, Georgia Bank Loan

 

 
Loan Census SBA Loan Info

Borrowing Money for Drycleaning and Laundry Services

Looking for bank loans for drycleaning and laundry services? The SBA may be the answer. This $364,000 drycleaning and laundry services loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Saehan Bank, out of Los Angeles, California. The loan was granted and they received $364,000 to help grow their Acworth, Georgia business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
Acworth, GA 30101

SBA Loan Lender

SAEHAN BANK
3580 WILSHIRE BLVD, STE 1500
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

7/20/2007

Loan Approval Gross Amount

$364,000

Loan Approval from the SBA

Of the total $364,000 loan amount, the SBA guaranteed $273,000.

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. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Banking Deregulation's Effects on Entrepreneurship

Best Los Angeles, California Banks for Small Business

Getting an SBA Loan in California