Drycleaning and Laundry Services Business Loans

Looking for business loans for drycleaning and laundry services? An SBA loan may be just what you've been looking for. This $130,000 drycleaning and laundry services loan was issued by an Oklahoma bank.

Getting a small business loan in Oklahoma City, Oklahoma was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Midfirst Bank, operating out of Oklahoma City, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
OKLAHOMA CITY, OK 93120

SBA Loan Lender

MIDFIRST BANK
501 NW GRAND BLVD
OKLAHOMA CITY, OK 73118

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

10/27/2006

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $65,000.

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 indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your 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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Midfirst Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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