How to Get a Loan for Drycleaning and Laundry Services

Looking for business loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $620,300 drycleaning and laundry services loan was issued by a Nevada bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Garland, Texas was able to borrow $620,300 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $465,225 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
GARLAND, TX 75044

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7216 - Drycleaning Plants

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$620,300

Loan Approval from the SBA

Of the total $620,300 loan amount, the SBA guaranteed $465,225.

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 only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Washington Mutual 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:

Bank Credit Lines

SBA 7A Lenders in Henderson, Nevada

Getting an SBA Loan in Nevada