Raising Money 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 $686,800 was given to a California entrepreneur in 2000.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cupertino, California was able to borrow $686,800 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $515,100 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
CUPERTINO, CA 95014
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
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
1/5/2000
Loan Approval Gross Amount
$686,800
Loan Approval from the SBA
Of the total $686,800 loan amount, the SBA guaranteed $515,100.
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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Direct Public Offerings
Where to Get an SBA Loan in San Jose, California
California SBA 7A Lenders