Ohio Valley Dry Cleaners Inc.
Ohio Valley Dry Cleaners Inc. is a drycleaning and laundry services business (except coin-operated) located in Saint Clairsville, Ohio. The company was financed with an SBA 7(a) loan for a change of ownership of $990,000, approved on May 23, 2024, through Unified Bank.
SBA 7(a) loan, change of ownership, approved May 23, 2024
$990,000 approvedLender: Unified Bank122 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $990,000
- SBA-guaranteed amount
- $742,500 (75% of the approval)
- Lender
- Unified Bank, Martins Ferry, OH
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10%, fixed
- Term
- 10 years, 2 months (122 months)
- Estimated maturity
- July 23, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,958 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 25, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 50
- Business type
- Corporation
- NAICS
- 812320, Drycleaning and Laundry Services (except Coin-Operated)
- Project location
- Belmont County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 52% of acquisition loans in Drycleaning and Laundry Services (except Coin-Operated) on this site.
- Average acquisition loan in Drycleaning and Laundry Services (except Coin-Operated): $1,281,569.
- Average acquisition loan in Ohio: $1,840,340.
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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