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April 19, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Drycleaning And Laundry Services Loan | ||||
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Small Business Loans from Bank Of The West
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SBA Loan from Bank Of The West Helps Drycleaning And Laundry Services CompanyAn SBA loan from Bank Of The West typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Scottsdale, Arizona business owner got a $276,000 loan. This small firm knew how to go about getting a business bank loan. Based in Scottsdale, Arizona, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Bank Of The West, based in Truckee, California. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender BANK OF THE WEST This lender provides SBA debt financing 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 812320 - Drycleaning and Laundry Services Loan Approval Date 10/10/2001 Loan Approval Gross Amount $276,000 Loan Approval from the SBA Of the total $276,000 loan amount, the SBA guaranteed $207,000. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Bank Of The West 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: Best Banks for Small Business in Truckee, California
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