Family Wash LLC
Family Wash LLC is a coin-operated laundry and drycleaner located in Parsippany, NJ, under NAICS code 812310. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1.13 million, approved on September 11, 2026 through New Millennium Bank.
SBA 7(a) loan, change of ownership, approved Sep 11, 2026
$1,130,000 approvedLender: New Millennium Bank25 years termCommitted, not fully disbursedLoan details
- Gross approval
- $1,130,000
- SBA-guaranteed amount
- $847,500 (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
- 7.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- September 11, 2051 (estimated, approval date plus term)
- Estimated monthly payment
- $8,535 Estimated payment at the initial rate over the full term; actual terms vary.
- Loan status
- Committed, not fully disbursed
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 812310, Coin-Operated Laundries and Drycleaners
- Project location
- Morris County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-11
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 60% of acquisition loans in Coin-Operated Laundries and Drycleaners on this site.
- Average acquisition loan in Coin-Operated Laundries and Drycleaners: $1,337,074.
- Average acquisition loan in New Jersey: $1,626,307.
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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