SBA Loans for Coin-Operated Laundries and Drycleaners

Looking for SBA loans for coin-operated laundries and drycleaners? Talk to a banker who works with the SBA. This $1,200,000 coin-operated laundries and drycleaners loan was issued by a New York bank.

This business knew how to go about getting a business bank loan. Based in Baltimore, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Woori America Bank, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
BALTIMORE, MD 21223

SBA Loan Lender

WOORI AMERICA BANK
1250 BROADWAY & 32ND ST
NEW YORK CITY, NY 10001

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

7/14/2005

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

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 2 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

We can help you find the best banks for small businesses in Baltimore or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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