Coin-Operated Laundries and Drycleaners Business Loans
With these business loans for coin-operated laundries and drycleaners, the SBA guarantees the lender that the loan will be repaid. This coin-operated laundries and drycleaners loan for $440,000 was given to a California entrepreneur in 2004.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Jose, California was able to borrow $440,000 from Service 1st Bank. The SBA made the loan possible by guaranteeing $330,000 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
SAN JOSE, CA 95126
SBA Loan Lender
SERVICE 1ST BANK
60 W 10TH ST
TRACY, CA 95376
This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
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
10/6/2004
Loan Approval Gross Amount
$440,000
Loan Approval from the SBA
Of the total $440,000 loan amount, the SBA guaranteed $330,000.
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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
Every year, the SBA guarantees over $10 billion for loans just like this one.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
Obtaining Funding - How to Decide How Much to Raise
SBA 7A Banks in Tracy, California
SBA California Banks