Get an SBA Loan for Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Looking for small business loans for commercial laundry, drycleaning, and pressing machine manufacturing? The SBA may be the answer. This $150,000 commercial laundry, drycleaning, and pressing machine manufacturing loan was issued by a Georgia bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Community Bank & Trust, out of Gainesville, Georgia. The loan was granted and they received $150,000 to help grow their Apex, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LAUNDRY AND DRYCLEANING EQUIPMENT
APEX, NC 27502

SBA Loan Lender

COMMUNITY BANK & TRUST
340 JESSE JEWELL PKWY, STE 62
GAINESVILLE, GA 30501

This lender issued this particular SBA 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.

SIC Code

3582 - Commercial Laundry and Drycleaning Equipment

NAICS Code

333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Loan Approval Date

3/5/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you 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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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