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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Bethesda, Business Loans > Eaglebank Bethesda Business Loans > Drycleaning And Laundry Services Loan | ||||
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Business Loans for Alexandria Small Businesses
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Getting an SBA Loan for Drycleaning and Laundry ServicesWith these business loans for drycleaning and laundry services, the SBA guarantees the lender that the loan will be repaid. This drycleaning and laundry services loan for $466,300 was given to a Virginia entrepreneur in 2004. Getting a small business loan in Alexandria, Virginia was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Eaglebank, operating out of Bethesda, Maryland. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender EAGLEBANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 11/24/2004 Loan Approval Gross Amount $466,300 Loan Approval from the SBA Of the total $466,300 loan amount, the SBA guaranteed $349,725. 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 15 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 14 existing jobs. Next Steps for Getting an SBA Loan 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Banks in Bethesda, Maryland
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