Coin-Operated Laundries and Drycleaners Commercial Loans

Looking for commercial loans for coin-operated laundries and drycleaners? Talk to a banker who works with the SBA. This $81,600 coin-operated laundries and drycleaners loan was issued by a Wyoming bank.

This small business knew how to go about getting a business bank loan. Based in Torrington, Wyoming, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Pinnacle Bank-Wyoming, based in Torrington, Wyoming.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
TORRINGTON, WY 82240

SBA Loan Lender

PINNACLE BANK-WYOMING
2000 MAIN ST
TORRINGTON, WY 82240

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

12/26/2001

Loan Approval Gross Amount

$81,600

Loan Approval from the SBA

Of the total $81,600 loan amount, the SBA guaranteed $69,360.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pinnacle Bank-Wyoming are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks for Torrington, Wyoming Loans

Wyoming SBA 7A Banks