Drycleaning and Laundry Services SBA Loans

Looking for SBA loans for drycleaning and laundry services? The SBA may be the answer. This $72,300 drycleaning and laundry services loan was issued by a New Mexico bank.

This business knew how to go about getting a business bank loan. Based in Albuquerque, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Western Commerce Bank, based in Albuquerque, New Mexico.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
ALBUQUERQUE, NM 87110

SBA Loan Lender

WESTERN COMMERCE BANK
1910 WYOMING NE
ALBUQUERQUE, NM 87112

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

1/28/2003

Loan Approval Gross Amount

$72,300

Loan Approval from the SBA

Of the total $72,300 loan amount, the SBA guaranteed $61,455.

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 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

How Equity Dilution Works

Where to Get an SBA Loan in Albuquerque, New Mexico

Where to Get an SBA Loan New Mexico