Commercial Loans for Drycleaning and Laundry Services

Looking for commercial loans for drycleaning and laundry services? An SBA loan may be just what you've been looking for. This $85,000 drycleaning and laundry services loan was issued by a Colorado bank.

This business knew how to go about getting a business bank loan. Based in Avon, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was American National Bank, based in Avon, Colorado.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
AVON, CO 81620

SBA Loan Lender

AMERICAN NATIONAL BANK
71 BEAVER CREEK PL
AVON, CO 81620

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

5/11/2006

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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