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April 26, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Victorville, Business Loans > East West Bank, A Division Of Victorville Business Loans > Coin-Operated Laundries And Drycleaning Loan | ||||
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Business Loans from East West Bank, A Division Of
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SBA Loan from East West Bank, A Division Of Helps Coin-Operated Laundries And Drycleaning CompanyEast West Bank, A Division Of and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with East West Bank, A Division Of, out of Victorville, California. The loan was granted and they received $340,000 to help grow their Long Beach, California business. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING SBA Loan Lender EAST WEST BANK, A DIVISION OF 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. SIC Code 7215 - Coin-Operated Laundries and Drycleaning NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 8/23/2000 Loan Approval Gross Amount $340,000 Loan Approval from the SBA Of the total $340,000 loan amount, the SBA guaranteed $255,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. East West Bank, A Division Of had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, East West Bank, A Division Of made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Where to Get an SBA Loan in Victorville, California Find an SBA Lender in California
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