Hailey's Laundromat
Hailey's Laundromat is a coin-operated laundry and drycleaner located in Fairfax, Virginia. The business was financed with an SBA 7(a) loan for a change of ownership, in the amount of $500,000, approved on September 20, 2024 by Hanmi Bank.
SBA 7(a) loan, change of ownership, approved Sep 20, 2024
$500,000 approvedLender: Hanmi Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- Hanmi Bank, Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 20, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,747 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 812310, Coin-Operated Laundries and Drycleaners
- Project location
- Fairfax County, VA
- SBA district office
- Washington District Office
- Congressional district
- VA-11
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Coin-Operated Laundries and Drycleaners: $1,337,074.
- Average acquisition loan in Virginia: $1,860,760.
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 Virginia
- O'Geen & Hew Holdings 1 LLC, Harrisonburg
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