Commercial Loans for Drycleaning and Laundry Services

Looking for commercial loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $178,000 drycleaning and laundry services loan was issued by a Georgia bank.

Getting a small business loan in Nashville, Tennessee was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Community Bank & Trust, operating out of Cornelia, Georgia. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: GARMENT PRESSING AND CLEANERS AGENTS FOR LAUNDRIES
NASHVILLE, TN 37205

SBA Loan Lender

COMMUNITY BANK & TRUST
448 N MAIN ST
CORNELIA, GA 30531

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7212 - Garment Pressing and Cleaners Agents for Laundries

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

10/2/2001

Loan Approval Gross Amount

$178,000

Loan Approval from the SBA

Of the total $178,000 loan amount, the SBA guaranteed $133,500.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Bank & Trust 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:

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SBA Banks in Cornelia, Georgia

SBA Lenders in Georgia