Borrowing Money for Coin-Operated Laundries and Drycleaners

Looking for loans for coin-operated laundries and drycleaners? Try the SBA. This $308,000 coin-operated laundries and drycleaners loan was issued by a Georgia bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Metro City Bank, out of Doraville, Georgia. The loan was granted and they received $308,000 to help grow their Lilburn, Georgia business.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
LILBURN, GA 30047

SBA Loan Lender

METRO CITY BANK
5441 BUFORD HWY
DORAVILLE, GA 30340

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

7/7/2006

Loan Approval Gross Amount

$308,000

Loan Approval from the SBA

Of the total $308,000 loan amount, the SBA guaranteed $231,000.

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 only one employee. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $308,000 loan. Remember, anyone can do it... so why not 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.

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