Financing for Drycleaning and Laundry Services

With these loans for drycleaning and laundry services, the SBA guarantees the lender that the loan will be repaid. This drycleaning and laundry services loan for $512,500 was given to a Colorado entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $512,500 to help grow their Longmont, Colorado business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
LONGMONT, CO 80504

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

6/17/2004

Loan Approval Gross Amount

$512,500

Loan Approval from the SBA

Of the total $512,500 loan amount, the SBA guaranteed $384,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $512,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Direct Public Offerings

Who Lends Money to Small Businesses in Birmingham, Alabama

Getting an SBA Loan in Alabama