Banco Popular North America Provides SBA Loan to Buy Dry Cleaning Station Franchise

Need a loan to buy a Dry Cleaning Station franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bowie, Maryland needed money to invest in a Dry Cleaning Station franchise back in 2007. Banco Popular North America issued an SBA franchise loan. Here are the details on this Maryland small business loan.

SBA Loan Borrower

DRY CLEANING STATION
BOWIE, MD 20720

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

2/1/2007

Loan Approval Gross Amount

$174,100

Loan Approval from the SBA

Of the total $174,100 loan amount, the SBA guaranteed $130,575.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dry Cleaning Station franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $174,100 loan. Remember, anyone can do it... so why not you?

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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