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April 27, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York City, Business Loans > Newbank New York City Business Loans > Garment Pressing And Cleaners Agents For Laundries Loan | ||||
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Raising Money in Irvington, New Jersey With SBA Loans
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Loans for Drycleaning and Laundry ServicesLooking for loans for drycleaning and laundry services? The SBA may be the answer. This $175,000 drycleaning and laundry services loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Irvington, New Jersey was able to borrow $175,000 from Newbank. The SBA made the loan possible by guaranteeing $131,250 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: GARMENT PRESSING AND CLEANERS AGENTS FOR LAUNDRIES SBA Loan Lender NEWBANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7212 - Garment Pressing and Cleaners Agents for Laundries NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 12/11/2006 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 5 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Irvington 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: Good Banks for Small Business in New York City, New York
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