Raising Money for Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

With these business loans for commercial laundry, drycleaning, and pressing machine manufacturing, the SBA guarantees the lender that the loan will be repaid. This commercial laundry, drycleaning, and pressing machine manufacturing loan for $120,000 was given to a Mississippi entrepreneur in 2003.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Hancock Bank, out of Gulfport, Mississippi. The loan was granted and they received $120,000 to help grow their Pascagoula, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LAUNDRY AND DRYCLEANING EQUIPMENT
PASCAGOULA, MS 39567

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3582 - Commercial Laundry and Drycleaning Equipment

NAICS Code

333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Loan Approval Date

3/7/2003

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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