Financing for Drycleaning and Laundry Services

With these commercial loans for drycleaning and laundry services, the SBA guarantees the lender that the loan will be repaid. This drycleaning and laundry services loan for $250,000 was given to a Pennsylvania entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Kennett Square, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Hsbc Business Loans, Inc, based in Buffalo, New York.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD LAUNDRY EQUIPMENT
KENNETT SQUARE, PA 19348

SBA Loan Lender

HSBC BUSINESS LOANS, INC
ONE MARINE MIDLAND CTR
BUFFALO, NY 14203

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3633 - Household Laundry Equipment

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

12/20/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 2 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hsbc Business Loans, Inc are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Equity Financing

SBA 7A Lenders in Buffalo, New York

SBA Participating Banks in New York