Raising Money for Coin-Operated Laundries and Drycleaners

Looking for business loans for coin-operated laundries and drycleaners? Talk to a banker who works with the SBA. This $80,000 coin-operated laundries and drycleaners loan was issued by an Indiana bank.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First Finan Bank, out of Terre Haute, Indiana. The loan was granted and they received $80,000 to help grow their Cloverdale, Indiana business.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
CLOVERDALE, IN 46120

SBA Loan Lender

FIRST FINAN BANK
ONE FIRST FINANCIAL PLAZA
TERRE HAUTE, IN 47807

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

3/2/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

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. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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.

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