Arkansas Entrepreneur Secures Financing to Buy Comet One-Hour Dry Cleaners Franchise

Need money to purchase a Comet One-Hour Dry Cleaners franchise? Elk Horn Bank & Trust Company has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Comet One-Hour Dry Cleaners franchise? If so, here's a 2001 SBA franchise loan that you should know about. Elk Horn Bank & Trust Company was the lender and the entrepreneur was based in Arkadelphia, Arkansas.

SBA Loan Borrower

SANDERSCREST INC
ARKADELPHIA, AR 71923

SBA Loan Lender

ELK HORN BANK & TRUST COMPANY
601 MAIN ST
ARKADELPHIA, AR 71923

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

7/18/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Comet One-Hour Dry Cleaners franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help generate 10 new jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Elk Horn Bank & Trust Company and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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