SBA Loan from Centennial Bank Helps Coin-Operated Laundries And Drycleaning Company

An SBA loan from Centennial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ashland, Nebraska business owner got a $70,600 loan.

This growing company knew how to go about getting a business bank loan. Based in Ashland, Nebraska, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Centennial Bank, based in Ashland, Nebraska.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
ASHLAND, NE 68003

SBA Loan Lender

CENTENNIAL BANK
2433 SILVER ST
ASHLAND, NE 68003

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

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

4/23/2001

Loan Approval Gross Amount

$70,600

Loan Approval from the SBA

Of the total $70,600 loan amount, the SBA guaranteed $60,010.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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