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May 18, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Lynnwood, Business Loans > The Bank Of Washington Lynnwood Business Loans > Drycleaning And Laundry Services Loan | ||||
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Business Loans for Lynnwood Business Owners
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Borrowing Money for Drycleaning and Laundry ServicesLooking for loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $58,500 drycleaning and laundry services loan was issued by a Washington bank. This small firm knew how to go about getting a business bank loan. Based in Lynnwood, Washington, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was The Bank Of Washington, based in Lynnwood, Washington. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender THE BANK OF WASHINGTON This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 3/8/2004 Loan Approval Gross Amount $58,500 Loan Approval from the SBA Of the total $58,500 loan amount, the SBA guaranteed $49,725. 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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA Participating Banks in Lynnwood, Washington
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