Drycleaning and Laundry Services Small Business Loans

Looking for small business loans for drycleaning and laundry services? Try the SBA. This $286,000 drycleaning and laundry services loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Jose, California was able to borrow $286,000 from Wilshire State Bank. The SBA made the loan possible by guaranteeing $214,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
SAN JOSE, CA 95148

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

This 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

7216 - Drycleaning Plants

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

6/19/2001

Loan Approval Gross Amount

$286,000

Loan Approval from the SBA

Of the total $286,000 loan amount, the SBA guaranteed $214,500.

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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, 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.

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