Driftwood Laundry LLC
Driftwood Laundry LLC is located in Houma, LA, and the SBA lists its industry as Coin-Operated Laundries and Drycleaners. It was approved for an SBA 7(a) loan of $645,000 for a change of ownership on July 2, 2025.
SBA 7(a) loan, change of ownership, approved Jul 2, 2025
- Gross approval
- $645,000
- SBA-guaranteed amount
- $483,750 (75% of the approval)
- Lender
- Hancock Whitney Bank, Gulfport, MS
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 2, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $8,524 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 1, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 812310, Coin-Operated Laundries and Drycleaners
- Project location
- Terrebonne County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 22% 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 Louisiana: $1,702,056.
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 Louisiana
- Wash World, New Orleans