SBA Loan from Amerasia Bank Helps Coin-Operated Laundries And Drycleaners Company

An SBA loan from Amerasia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brooklyn, New York business owner got a $298,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Brooklyn, New York, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Amerasia Bank, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
BROOKLYN, NY 11212

SBA Loan Lender

AMERASIA BANK
41-06 MAIN ST
NEW YORK CITY, NY 11355

The lender provided this bank 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

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

1/22/2007

Loan Approval Gross Amount

$298,000

Loan Approval from the SBA

Of the total $298,000 loan amount, the SBA guaranteed $149,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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