Bank Loans for Coin-Operated Laundries and Drycleaners

Looking for bank loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $111,600 coin-operated laundries and drycleaners loan was issued by a Minnesota bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Wells Fargo Bank, out of Minneapolis, Minnesota. The loan was granted and they received $111,600 to help grow their Bellwood, Illinois business.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
BELLWOOD, IL 60104

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This lender issued this particular 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

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

8/17/2001

Loan Approval Gross Amount

$111,600

Loan Approval from the SBA

Of the total $111,600 loan amount, the SBA guaranteed $94,860.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find other ways to get money to start a business, 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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