Borrowing Money for Coin-Operated Laundries and Drycleaners

With these small business loans for coin-operated laundries and drycleaners, the SBA guarantees the lender that the loan will be repaid. This coin-operated laundries and drycleaners loan for $190,600 was given to a Massachusetts entrepreneur in 2007.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Eastern Bank, out of Boston, Massachusetts. The loan was granted and they received $190,600 to help grow their Boston, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
BOSTON, MA 02128

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

7/12/2007

Loan Approval Gross Amount

$190,600

Loan Approval from the SBA

Of the total $190,600 loan amount, the SBA guaranteed $95,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Boston MA, you ought to talk with a local Boston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Boston businesses.

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.

Related Links:

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Small Business Banks in Boston, Massachusetts

Where to Get an SBA Loan Massachusetts