Drycleaning and Laundry Services SBA Loans

Looking for SBA loans for drycleaning and laundry services? The SBA may be the answer. This $101,800 drycleaning and laundry services loan was issued by a Mississippi bank.

This small business knew how to go about getting a business bank loan. Based in Madison, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Community Bank Of Mississippi, based in Forest, Mississippi.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
MADISON, MS 39110

SBA Loan Lender

COMMUNITY BANK OF MISSISSIPPI
323 E 3RD ST
FOREST, MS 39074

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

812320 - Drycleaning and Laundry Services

Loan Approval Date

6/30/2006

Loan Approval Gross Amount

$101,800

Loan Approval from the SBA

Of the total $101,800 loan amount, the SBA guaranteed $86,530.

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 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

The Friends and Family Network

SBA 7A Lenders in Forest, Mississippi

Mississippi SBA 7A Lenders