Where to Get Capital for Coin-Operated Laundries and Drycleaners

Looking for small business loans for coin-operated laundries and drycleaners? Talk to a banker who works with the SBA. This $1,020,000 coin-operated laundries and drycleaners loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arlington, Texas was able to borrow $1,020,000 from Millennium State Bank Of Texas. The SBA made the loan possible by guaranteeing $530,400 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
ARLINGTON, TX 76012

SBA Loan Lender

MILLENNIUM STATE BANK OF TEXAS
11950 WEBB CHAPEL RD
DALLAS, TX 75234

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

7/31/2006

Loan Approval Gross Amount

$1,020,000

Loan Approval from the SBA

Of the total $1,020,000 loan amount, the SBA guaranteed $530,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Millennium State Bank Of Texas that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

Related Links:

The Art of Bootstrapping

SBA Approved Banks in Dallas, Texas

SBA Participating Banks in Texas