Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing Bank Loans

Looking for bank loans for commercial laundry, drycleaning, and pressing machine manufacturing? An SBA loan may be just what you've been looking for. This $140,000 commercial laundry, drycleaning, and pressing machine manufacturing loan was issued by a South Carolina bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First Cit. Bank & Trust Inc, out of Columbia, South Carolina. The loan was granted and they received $140,000 to help grow their Columbia, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LAUNDRY AND DRYCLEANING EQUIPMENT
COLUMBIA, SC 29205

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
1314 PARK ST
COLUMBIA, SC 29201

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3582 - Commercial Laundry and Drycleaning Equipment

NAICS Code

333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Loan Approval Date

12/17/2002

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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SBA Participating Banks in Columbia, South Carolina

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