Drycleaning and Laundry Services SBA Loans

Looking for SBA loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $212,500 drycleaning and laundry services loan was issued by an Arkansas bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Cross County Bank, out of Wynne, Arkansas. The loan was granted and they received $212,500 to help grow their Wynne, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
WYNNE, AR 72396

SBA Loan Lender

CROSS COUNTY BANK
1 CROSS COUNTY PLZ
WYNNE, AR 72396

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

7/25/2005

Loan Approval Gross Amount

$212,500

Loan Approval from the SBA

Of the total $212,500 loan amount, the SBA guaranteed $159,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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Small Bank Loans in Wynne, Arkansas

SBA Arkansas Lenders