Spin Doctor Laundromat
Spin Doctor Laundromat is a coin-operated laundry and drycleaning business in Hamilton Township, New Jersey, classified under NAICS 812310. It was financed with an SBA 7(a) loan for a change of ownership of $620,000, with a 120-month term, approved through East West Bank on September 12, 2025.
SBA 7(a) loan, change of ownership, approved Sep 12, 2025
$620,000 approvedLender: East West Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $620,000
- SBA-guaranteed amount
- $465,000 (75% of the approval)
- Lender
- East West Bank, Pasadena, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 12, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $7,854 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 8, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 812310, Coin-Operated Laundries and Drycleaners
- Franchise
- Spin Doctor Laundromats
- Project location
- Mercer County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 19% 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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Same industry in New Jersey
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- Belleville Laundromat LLC, Belleville