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Dryeco Garment Care, LLC

Sunny Isles Beach, FL · Drycleaning and Laundry Services (except Coin-Operated) · NAICS 812320

Dryeco Garment Care, LLC, located in Sunny Isles Beach, Florida, operates in drycleaning and laundry services (except coin-operated). The business was financed with an SBA 7(a) loan for a change of ownership totaling $4.55 million, approved on December 31, 2023, through lender Port 51 Lending LLC.

SBA 7(a) loan, change of ownership, approved Dec 31, 2023

$4,550,000 approvedLender: Port 51 Lending LLC15 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,550,000
SBA-guaranteed amount
$3,412,500 (75% of the approval)
Lender
Port 51 Lending LLC, New York, NY
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
15 years (180 months)
Estimated maturity
December 31, 2038 (estimated, approval date plus term)
Estimated monthly payment
$52,432 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 11, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
25
Business type
Corporation
NAICS
812320, Drycleaning and Laundry Services (except Coin-Operated)
Project location
Miami-Dade County, FL
SBA district office
South Florida District Office
Congressional district
FL-23
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 97% 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 Florida: $1,808,559.

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 Florida