Financing for Drycleaning and Laundry Services

Looking for loans for drycleaning and laundry services? The SBA may be the answer. This $202,000 drycleaning and laundry services loan was issued by a Georgia bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Gwinnett Community Bank, out of Duluth, Georgia. The loan was granted and they received $202,000 to help grow their Grayson, Georgia business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
GRAYSON, GA 30017

SBA Loan Lender

GWINNETT COMMUNITY BANK
2775 BUFORD HWY
DULUTH, GA 30096

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

12/9/2004

Loan Approval Gross Amount

$202,000

Loan Approval from the SBA

Of the total $202,000 loan amount, the SBA guaranteed $151,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Gwinnett Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Gwinnett Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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