Get an SBA Loan for Coin-Operated Laundries and Drycleaners

Looking for small business loans for coin-operated laundries and drycleaners? Try the SBA. This $93,000 coin-operated laundries and drycleaners loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palatine Bridge, New York was able to borrow $93,000 from Trustco Bank. The SBA made the loan possible by guaranteeing $79,050 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
PALATINE BRIDGE, NY 13428

SBA Loan Lender

TRUSTCO BANK
1 SARNOWSKI DR
GLENVILLE, NY 12302

This lender issued this particular bank 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.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

7/25/2003

Loan Approval Gross Amount

$93,000

Loan Approval from the SBA

Of the total $93,000 loan amount, the SBA guaranteed $79,050.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Trustco Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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