Raising Money for Coin-Operated Laundries and Drycleaners

Looking for bank loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $50,000 coin-operated laundries and drycleaners loan was issued by a California bank.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Cathay Bank, out of Alhambra, California. The loan was granted and they received $50,000 to help grow their San Diego, California business.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
SAN DIEGO, CA 92110

SBA Loan Lender

CATHAY BANK
1420 E VALLEY BLVD
ALHAMBRA, CA 91801

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

2/21/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 20 employees. This SBA loan request indicated that the loan would help retain 20 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 Much Venture Capital Is There?

Who Lends Money to Small Businesses in Alhambra, California

Find an SBA Lender in California