Brookfield Cleaners & Tailors
Brookfield Cleaners & Tailors is a drycleaning and laundry services business located in Brookfield, CT, in the drycleaning and laundry services industry (except coin-operated). The business was financed with an SBA 7(a) loan for a change of ownership, approved on October 18, 2024, in the amount of $1 million, with The Bancorp Bank National Association as lender.
SBA 7(a) loan, change of ownership, approved Oct 18, 2024
$1,000,000 approvedLender: The Bancorp Bank National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,000,000
- SBA-guaranteed amount
- $750,000 (75% of the approval)
- Lender
- The Bancorp Bank National Association, Sioux Falls, SD
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- October 18, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,668 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 812320, Drycleaning and Laundry Services (except Coin-Operated)
- Project location
- Western Ct County, CT
- SBA district office
- Connecticut District Office
- Congressional district
- CT-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 53% 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 Connecticut: $1,992,959.
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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