Coin-Operated Laundries and Drycleaners Commercial Loans

Looking for commercial loans for coin-operated laundries and drycleaners? An SBA loan may be just what you've been looking for. This $144,500 coin-operated laundries and drycleaners loan was issued by an Ohio bank.

This business knew how to go about getting a business bank loan. Based in Brookfield, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was National City Bank, based in Cleveland, Ohio.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
Brookfield, IL 60513

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

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

10/27/2006

Loan Approval Gross Amount

$144,500

Loan Approval from the SBA

Of the total $144,500 loan amount, the SBA guaranteed $72,250.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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