Wells Fargo Bank Provides SBA Loan to Buy Drycleaning-To-Your-Door Franchise

Borrowing money to invest in a Drycleaning-To-Your-Door franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Drycleaning-To-Your-Door franchise? If so, here's a 2007 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Mount Orab (rr Name Mount Oreb, Ohio.

SBA Loan Borrower

ISSAM GHANEM PROPERTIES LLC
MOUNT ORAB (RR NAME MOUNT OREB, OH 45154

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

9/24/2007

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Drycleaning-To-Your-Door franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Dry Cleaning To-Your-Door

Realistic Debt Financing Options

SBA 7A Lenders in Sioux Falls, South Dakota

South Dakota SBA 7A Lenders