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May 2, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Los Angeles, Business Loans > Pacific City Bank Los Angeles Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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We Needed an SBA Loan in Dallas, Texas and We Got One!
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Coin-Operated Laundries and Drycleaners Commercial LoansLooking for commercial loans for coin-operated laundries and drycleaners? Try the SBA. This $740,000 coin-operated laundries and drycleaners loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dallas, Texas was able to borrow $740,000 from Pacific City Bank. The SBA made the loan possible by guaranteeing $555,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender PACIFIC CITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 11/24/2006 Loan Approval Gross Amount $740,000 Loan Approval from the SBA Of the total $740,000 loan amount, the SBA guaranteed $555,000. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! 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. 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 Pacific City 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: SBA 7A Lenders in Los Angeles, California Find an SBA Lender in California
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