Drycleaning and Laundry Services Bank Loans

Looking for bank loans for drycleaning and laundry services? An SBA loan may be just what you've been looking for. This $75,000 drycleaning and laundry services loan was issued by a Massachusetts bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Billerica, Massachusetts was able to borrow $75,000 from Enterprise Bank & Trust. The SBA made the loan possible by guaranteeing $63,750 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
BILLERICA, MA 01821

SBA Loan Lender

ENTERPRISE BANK & TRUST
222 MERRIMACK ST
LOWELL, MA 01852

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

7211 - Power Laundries, Family and Commercial

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

6/9/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 6 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Obtaining Funding - Getting Venture Capital

Small Bank Loans in Lowell, Massachusetts

Massachusetts SBA 7A Banks