SBA Loans for Drycleaning and Laundry Services

Looking for SBA loans for drycleaning and laundry services? Try the SBA. This $87,000 drycleaning and laundry services loan was issued by an Oregon bank.

This small business knew how to go about getting a business bank loan. Based in Santa Clara, Utah, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Washington Mutual Bank, based in Medford, Oregon.

SBA Loan Borrower

COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
SANTA CLARA, UT 84790

SBA Loan Lender

WASHINGTON MUTUAL BANK
601 CRATER LAKE AVE
MEDFORD, OR 97504

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7211 - Power Laundries, Family and Commercial

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

4/10/2000

Loan Approval Gross Amount

$87,000

Loan Approval from the SBA

Of the total $87,000 loan amount, the SBA guaranteed $69,600.

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. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $87,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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