Main Street Registry

Ampm Laundry Lounge Onley Inc

Philadelphia, PA · Coin-Operated Laundries and Drycleaners · NAICS 812310

Ampm Laundry Lounge Onley Inc is a coin-operated laundry and drycleaner located in Philadelphia, PA, in the Coin-Operated Laundries and Drycleaners industry (NAICS 812310). The company was financed with an SBA 7(a) loan for a change of ownership totaling $720,000, with Metro City Bank as the lender and approval dated November 1, 2024.

SBA 7(a) loan, change of ownership, approved Nov 1, 2024

$720,000 approvedLender: Metro City Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$720,000
SBA-guaranteed amount
$540,000 (75% of the approval)
Lender
Metro City Bank, Doraville, GA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
November 1, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,515 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 20, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
812310, Coin-Operated Laundries and Drycleaners
Project location
Philadelphia County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 27% 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 Pennsylvania: $1,636,965.

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.

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Same industry in Pennsylvania