Loans for Drycleaning and Laundry Services

With these loans for drycleaning and laundry services, the SBA guarantees the lender that the loan will be repaid. This drycleaning and laundry services loan for $120,000 was given to an Illinois entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Center Bank, out of Los Angeles, California. The loan was granted and they received $120,000 to help grow their Chicago, Illinois business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
CHICAGO, IL 60639

SBA Loan Lender

CENTER BANK
3435 WILSHIRE BLVD, STE 700
LOS ANGELES, CA 90010

The lender provided this SBA bank 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

812320 - Drycleaning and Laundry Services

Loan Approval Date

12/23/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $60,000.

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 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

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.

This SBA loan was for $120,000. How would you spend $120,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Borrowing Money from Friends and Family

Good Banks for Small Business in Los Angeles, California

Browse All Business Loan Sources for California