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April 28, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > New York City, Business Loans > Shinhan Bank America New York City Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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Nashville, Tennessee Bank Loan
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Loans for Coin-Operated Laundries and DrycleanersLooking for loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $294,000 coin-operated laundries and drycleaners loan was issued by a New York bank. This company knew how to go about getting a business bank loan. Based in Nashville, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Shinhan Bank America, based in New York City, New York. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender SHINHAN BANK AMERICA This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 12/13/2007 Loan Approval Gross Amount $294,000 Loan Approval from the SBA Of the total $294,000 loan amount, the SBA guaranteed $220,500. 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 application for the borrower indicated that the loan would help generate 4 new jobs and retain 6 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Shinhan Bank America 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: Where to Get an SBA Loan in New York City, New York
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