Get an SBA Loan for Coin-Operated Laundries and Drycleaners

With these small business 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 $200,000 was given to a Minnesota entrepreneur in 2001.

Getting a small business loan in White Bear Lake, Minnesota was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Premier Bank, operating out of White Bear Lake, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
WHITE BEAR LAKE, MN 55110

SBA Loan Lender

PREMIER BANK
2151 3RD ST
WHITE BEAR LAKE, MN 55110

This bank 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.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

9/10/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Premier Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Premier Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Strategic Investors

SBA Banks in White Bear Lake, Minnesota

Minnesota SBA 7A Lenders