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April 29, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Drycleaning And Laundry Services Loan | ||||
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Best Banks for Joliet Businesses
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Drycleaning and Laundry Services Small Business LoansLooking for small business loans for drycleaning and laundry services? The SBA may be the answer. This $102,000 drycleaning and laundry services loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Joliet, Illinois was able to borrow $102,000 from Nara Bank. The SBA made the loan possible by guaranteeing $51,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender NARA BANK This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 6/8/2004 Loan Approval Gross Amount $102,000 Loan Approval from the SBA Of the total $102,000 loan amount, the SBA guaranteed $51,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $102,000 loan. Remember, you control your own destiny. 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 - Getting Venture Capital SBA 7A Lenders in Los Angeles, California Browse All Business Loan Sources for California
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