Business Loans for Coin-Operated Laundries and Drycleaners

Looking for business loans for coin-operated laundries and drycleaners? Talk to a banker who works with the SBA. This $138,327 coin-operated laundries and drycleaners loan was issued by a Mississippi bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Laurel, Mississippi was able to borrow $138,327 from Community Bank, Ellisville. The SBA made the loan possible by guaranteeing $117,578 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
LAUREL, MS 39440

SBA Loan Lender

COMMUNITY BANK, ELLISVILLE
5159 HWY 84, WEST
LAUREL, MS 39443

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

12/23/2002

Loan Approval Gross Amount

$138,327

Loan Approval from the SBA

Of the total $138,327 loan amount, the SBA guaranteed $117,578.

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 5 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Community Bank, Ellisville so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Getting a Small Business Loan

SBA Approved Banks in Laurel, Mississippi

Mississippi SBA Bank Lenders