Bank Loans for Drycleaning and Laundry Services

Looking for bank loans for drycleaning and laundry services? Try the SBA. This $698,200 drycleaning and laundry services loan was issued by a Tennessee bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hermitage, Tennessee was able to borrow $698,200 from Bancorpsouth Bank. The SBA made the loan possible by guaranteeing $523,650 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
HERMITAGE, TN 37076

SBA Loan Lender

BANCORPSOUTH BANK
5217 MARYLAND WAY, STE 100
BRENTWOOD, TN 37027

This bank loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

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

3/30/2000

Loan Approval Gross Amount

$698,200

Loan Approval from the SBA

Of the total $698,200 loan amount, the SBA guaranteed $523,650.

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 6 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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 find business people willing to loan money, 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.

Related Links:

Small Business Loan

SBA Participating Banks in Brentwood, Tennessee

SBA Tennessee Lenders