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March 28, 2024  
 
 
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SBA Lenders California

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Downey, California Bank to Get an SBA Loan

Want to talk with a Downey, California bank about a business loan? Here's one California business loan, issued by a Downey bank, that was approved by the SBA.

Applying for an SBA loan with Banco Popular North America worked out well for our friends at one local firm in Citrus Heights, California. They got an SBA loan for $651,500. Nice!

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
CITRUS HEIGHTS, CA 95610

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
11101 LA REINA AVE
DOWNEY, CA 90241

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 SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$651,500

Loan Approval from the SBA

Of the total $651,500 loan amount, the SBA guaranteed $488,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $651,500 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.

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SBA Approved Banks in Downey, California

California SBA 7A Banks