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May 3, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Santa Barbara, Business Loans > Pacific Cap. Bank Santa Barbara Business Loans > Coin-Operated Laundries And Drycleaning Loan | ||||
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Raising Money in San Pedro, California With SBA Loans
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Borrowing Money for Coin-Operated Laundries and DrycleanersLooking for small business loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $444,500 coin-operated laundries and drycleaners loan was issued by a California bank. This small firm knew how to go about getting a business bank loan. Based in San Pedro, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Pacific Cap. Bank, based in Santa Barbara, California. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING SBA Loan Lender PACIFIC CAP. BANK 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 8/2/2000 Loan Approval Gross Amount $444,500 Loan Approval from the SBA Of the total $444,500 loan amount, the SBA guaranteed $333,375. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding. 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 Cap. 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 Santa Barbara, California
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