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

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)

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 New York