Drycleaning and Laundry Services Business Loans

Looking for business loans for drycleaning and laundry services? The SBA may be the answer. This $40,000 drycleaning and laundry services loan was issued by a North Carolina bank.

This small business knew how to go about getting a business bank loan. Based in Pasadena, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of America, based in Charlotte, North Carolina.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
PASADENA, CA 91105

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

6/4/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 10 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Pasadena CA, you ought to talk with a local Pasadena SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pasadena businesses.

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 Bank Of America 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.

Related Links:

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Small Bank Loans in Charlotte, North Carolina

Getting a Business Loan in North Carolina