Borrowing Money for Coin-Operated Laundries and Drycleaners
Looking for loans for coin-operated laundries and drycleaners? An SBA loan may be just what you've been looking for. This $78,000 coin-operated laundries and drycleaners loan was issued by a North Carolina bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $78,000 from Bank Of America. The SBA made the loan possible by guaranteeing $39,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
NEW YORK, NY 10128
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
812310 - Coin-Operated Laundries and Drycleaners
Loan Approval Date
6/21/2007
Loan Approval Gross Amount
$78,000
Loan Approval from the SBA
Of the total $78,000 loan amount, the SBA guaranteed $39,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.
Next Steps for Getting an SBA Loan
Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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