Raising Money for Coin-Operated Laundries and Drycleaners

Looking for business loans for coin-operated laundries and drycleaners? Try the SBA. This $46,000 coin-operated laundries and drycleaners loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Norco, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Gbc International Bank, based in Monterey Park, California.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
NORCO, CA 92860

SBA Loan Lender

GBC INTERNATIONAL BANK
168 W GARVEY AVE
MONTEREY PARK, CA 91754

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

10/30/2001

Loan Approval Gross Amount

$46,000

Loan Approval from the SBA

Of the total $46,000 loan amount, the SBA guaranteed $39,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. 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?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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