Getting an SBA Loan for Drycleaning and Laundry Services

Looking for business loans for drycleaning and laundry services? Try the SBA. This $244,000 drycleaning and laundry services loan was issued by a California bank.

This business knew how to go about getting a business bank loan. Based in Tomball, Texas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was East West Bank, based in San Marino, California.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
TOMBALL, TX 77375

SBA Loan Lender

EAST WEST BANK
2090 HUNTINGTON DR
SAN MARINO, CA 91108

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

5/31/2005

Loan Approval Gross Amount

$244,000

Loan Approval from the SBA

Of the total $244,000 loan amount, the SBA guaranteed $122,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the funding would help create 8 new jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We've showcased information on this loan to let you know that businesses like yours 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:

Find Start-Up Capital

SBA 7A Banks in San Marino, California

Where to Get an SBA Loan California