SBA Loan from Conestoga Bank Helps Coin-Operated Laundries And Drycleaning Company

An SBA loan from Conestoga Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cherry Hill, Pennsylvania business owner got a $150,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Conestoga Bank, out of Chester Springs, Pennsylvania. The loan was granted and they received $150,000 to help grow their Cherry Hill, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
CHERRY HILL, PA 08034

SBA Loan Lender

CONESTOGA BANK
165 POTTSTOWN PIKE
CHESTER SPRINGS, PA 19425

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours 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:

Obtaining Funding - Getting Venture Capital

Small Bank Loans in Chester Springs, Pennsylvania

Getting an SBA Loan in Pennsylvania