Bank Loans for Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Looking for bank loans for commercial laundry, drycleaning, and pressing machine manufacturing? Talk to a banker who works with the SBA. This $140,000 commercial laundry, drycleaning, and pressing machine manufacturing loan was issued by a Massachusetts bank.

This company knew how to go about getting a business bank loan. Based in Great Barrington, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Lee Bank, based in Great Barrington, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LAUNDRY AND DRYCLEANING EQUIPMENT
GREAT BARRINGTON, PA 01230

SBA Loan Lender

LEE BANK
279 MAIN ST
GREAT BARRINGTON, MA 01230

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3582 - Commercial Laundry and Drycleaning Equipment

NAICS Code

333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Loan Approval Date

12/19/2002

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 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.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We can help you find the best banks for small businesses in Great Barrington 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.

Related Links:

Direct Public Offerings

Best Banks in Great Barrington, Massachusetts

Getting a Business Loan in Massachusetts