Borrowing Money for Drycleaning and Laundry Services

Looking for loans for drycleaning and laundry services? Try the SBA. This $55,000 drycleaning and laundry services loan was issued by an Oklahoma bank.

This small firm knew how to go about getting a business bank loan. Based in Rush Springs, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was 1st National Bank & Trust Chic, based in Chickasha, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
RUSH SPRINGS, OK 73082

SBA Loan Lender

1ST NATIONAL BANK & TRUST CHIC
302 CHICKASHA AVE
CHICKASHA, OK 73023

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7216 - Drycleaning Plants

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

5/4/2000

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $44,000.

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 3 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $55,000 loan. Remember, if it to be, it is up to me!

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:

How Equity Dilution Works

Best Chickasha, Oklahoma Banks for Small Business

Oklahoma SBA 7A Lenders