Drycleaning and Laundry Services Loans

Looking for loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $166,500 drycleaning and laundry services loan was issued by a Vermont bank.

Getting a small business loan in Eden Mills, Vermont was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Union Bank, operating out of Morrisville, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
EDEN MILLS, VT 05653

SBA Loan Lender

UNION BANK
20 LOWER MAIN ST
MORRISVILLE, VT 05661

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

4/24/2003

Loan Approval Gross Amount

$166,500

Loan Approval from the SBA

Of the total $166,500 loan amount, the SBA guaranteed $124,875.

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 16 employees. This SBA loan request indicated that the loan would help retain 16 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Union Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Financing Your Business

Where to Get an SBA Loan in Morrisville, Vermont

Getting an SBA Loan in Vermont