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April 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Sacramento, Business Loans > Comerica Bank Sacramento Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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California SBA Lenders
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Entrepreneur Works With Sacramento, California Bank to Get an SBA LoanA Sacramento, California SBA loan can be yours. Learn how one firm got a $341,000 business loan from this California bank. This loan to a local firm is a good example of an SBA loan. Comerica Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender COMERICA BANK This commercial loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 8/26/2005 Loan Approval Gross Amount $341,000 Loan Approval from the SBA Of the total $341,000 loan amount, the SBA guaranteed $255,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Comerica 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: Obtaining Funding - Friends and Family SBA Banks in Sacramento, California
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