Raising Money for Coin-Operated Laundries and Drycleaners

Looking for business loans for coin-operated laundries and drycleaners? An SBA loan may be just what you've been looking for. This $150,000 coin-operated laundries and drycleaners loan was issued by a Texas bank.

Getting a small business loan in Bonham, Texas was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Texas, operating out of Sherman, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
BONHAM, TX 75418

SBA Loan Lender

AMERICAN BANK OF TEXAS
2011 TEXOMA PKWY
SHERMAN, TX 75090

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

8/12/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Bonham TX, you ought to talk with a local Bonham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bonham businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Getting a Small Business Loan

Good Banks for Small Business in Sherman, Texas

Where to Get an SBA Loan Texas