Getting an SBA Loan for Coin-Operated Laundries and Drycleaners

With these 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 $91,900 was given to an Ohio entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Canal Winchester, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First Bremen Bank, based in Canal Winchester, Ohio.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
CANAL WINCHESTER, OH 43110

SBA Loan Lender

FIRST BREMEN BANK
6360 PRENTISS SCHOOL DR
CANAL WINCHESTER, OH 43110

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

7/20/2005

Loan Approval Gross Amount

$91,900

Loan Approval from the SBA

Of the total $91,900 loan amount, the SBA guaranteed $45,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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.

Related Links:

Microlending as a Small Business Funding Source

SBA Participating Banks in Canal Winchester, Ohio

Ohio SBA 7A Banks