Financing for Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing
Looking for commercial loans for commercial laundry, drycleaning, and pressing machine manufacturing? The SBA may be the answer. This $330,000 commercial laundry, drycleaning, and pressing machine manufacturing loan was issued by a North Carolina bank.
This business knew how to go about getting a business bank loan. Based in Bridgeport, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL LAUNDRY, DRYCLEANING, AND PRESSING MACHINE MANUFACTURING
BRIDGEPORT, OH 43912
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing
Loan Approval Date
5/27/2005
Loan Approval Gross Amount
$330,000
Loan Approval from the SBA
Of the total $330,000 loan amount, the SBA guaranteed $165,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
Understanding Dilution
Find an SBA Lender in Winston Salem, North Carolina
North Carolina SBA 7A Lenders