Coin-Operated Laundries and Drycleaners Loans

With these 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 $170,000 was given to a Georgia entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Stone Mountain, Georgia was able to borrow $170,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $127,500 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
STONE MOUNTAIN, GA 30083

SBA Loan Lender

BANK OF THE WEST
10069 BRIDGE ST
TRUCKEE, CA 96161

This lender provides SBA loans 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

5/21/2001

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of The West and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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