Raising Money for Drycleaning and Laundry Services

Looking for bank loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $150,000 drycleaning and laundry services loan was issued by a Nebraska bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pinnacle Bank, out of Lexington, Nebraska. The loan was granted and they received $150,000 to help grow their Lexington, Nebraska business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
LEXINGTON, NE 68850

SBA Loan Lender

PINNACLE BANK
410 N WASHINGTON
LEXINGTON, NE 68850

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

5/1/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Lexington NE, you ought to talk with a local Lexington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lexington businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pinnacle Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Angel Investors

SBA 7A Banks for Lexington, Nebraska Loans

Nebraska SBA Banks