Commercial Loans for Drycleaning and Laundry Services

Looking for commercial loans for drycleaning and laundry services? Talk to a banker who works with the SBA. This $1,100,000 drycleaning and laundry services loan was issued by a Texas bank.

This small business knew how to go about getting a business bank loan. Based in Arlington, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Comerica Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
ARLINGTON, TX 76107

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender provides SBA business 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.

SIC Code

7211 - Power Laundries, Family and Commercial

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

2/17/2000

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $749,991.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the borrowed money would help create 12 new jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Attracting Investors

Best Banks for Small Business in Houston, Texas

SBA Lenders in Texas