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This brand name could be ideally suited to a business brand.
The name "Loomway" has seven characters and only two syllables. Two-syllable names are highly rare and extremely prestigious. Examples of popular two syllable names include WeChat, Visa and Sony.
Loomway.com is a dot-com domain. Dot com is the most sought after domain extension. When you own a dot-com, it is much easier to rank for your own name in search engines.