Platinum Dry Cleaning, LLC
Platinum Dry Cleaning, LLC is a drycleaning and laundry services business (except coin-operated) located in Suwanee, GA, classified under NAICS code 812320. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,881,000, with Byline Bank as the lender and an approval date of February 11, 2025.
SBA 7(a) loan, change of ownership, approved Feb 11, 2025
$1,881,000 approvedLender: Byline Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,881,000
- SBA-guaranteed amount
- $1,410,750 (75% of the approval)
- Lender
- Byline Bank, Chicago, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 11, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $25,119 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 25, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 812320, Drycleaning and Laundry Services (except Coin-Operated)
- Project location
- Gwinnett County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 81% 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 Georgia: $2,017,638.
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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