Main Street Registry

The Laundry Lab Easton LLC

Easton, PA · Coin-Operated Laundries and Drycleaners · NAICS 812310

The Laundry Lab Easton LLC, located in Easton, PA, operates in the coin-operated laundries and drycleaners industry (NAICS 812310). It was financed with an SBA 7(a) loan for a change of ownership of $648,000, approved on November 7, 2024, by The Honesdale National Bank.

SBA 7(a) loan, change of ownership, approved Nov 7, 2024

$648,000 approvedLender: The Honesdale National Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$648,000
SBA-guaranteed amount
$486,000 (75% of the approval)
Lender
The Honesdale National Bank, Honesdale, PA
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9%, variable
Term
10 years (120 months)
Estimated maturity
November 7, 2034 (estimated, approval date plus term)
Estimated monthly payment
$8,209 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 13, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
812310, Coin-Operated Laundries and Drycleaners
Project location
Northampton County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-07
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 23% 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 Pennsylvania: $1,636,965.

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 Pennsylvania