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April 23, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Essex, Business Loans > Essex Savings Bank Essex Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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Connecticut Small Business Funding
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Where to Get Capital for Coin-Operated Laundries and DrycleanersLooking for SBA loans for coin-operated laundries and drycleaners? Try the SBA. This $63,000 coin-operated laundries and drycleaners loan was issued by a Connecticut bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clinton, Connecticut was able to borrow $63,000 from Essex Savings Bank. The SBA made the loan possible by guaranteeing $53,550 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender ESSEX SAVINGS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 11/21/2003 Loan Approval Gross Amount $63,000 Loan Approval from the SBA Of the total $63,000 loan amount, the SBA guaranteed $53,550. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Role of Business Plan When Raising Money SBA 7A Lenders in Essex, Connecticut
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