Main Street Registry

5838 Spin City LLC

Bay Shore, NY · Coin-Operated Laundries and Drycleaners · NAICS 812310

5838 Spin City LLC is a coin-operated laundry and drycleaner located in Bay Shore, New York. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $3,000,000, approved on July 28, 2025 by New Millennium Bank.

SBA 7(a) loan, change of ownership, approved Jul 28, 2025

$3,000,000 approvedLender: New Millennium Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,000,000
SBA-guaranteed amount
$2,250,000 (75% of the approval)
Lender
New Millennium Bank, Fort Lee, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.5%, variable
Term
25 years (300 months)
Estimated maturity
July 28, 2050 (estimated, approval date plus term)
Estimated monthly payment
$24,157 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 5, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
812310, Coin-Operated Laundries and Drycleaners
Project location
Suffolk County, NY
SBA district office
New York District Office
Congressional district
NY-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 91% of acquisition loans in Coin-Operated Laundries and Drycleaners on this site.
  • Average acquisition loan in Coin-Operated Laundries and Drycleaners: $1,337,074.
  • Average acquisition loan in New York: $1,771,512.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in New York