Borrowing Money for Coin-Operated Laundries and Drycleaners
With these bank loans for coin-operated laundries and drycleaners, the SBA guarantees the lender that the loan will be repaid. This coin-operated laundries and drycleaners loan for $150,000 was given to a Texas entrepreneur in 2001.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dallas, Texas was able to borrow $150,000 from Southwest Securities, Fsb. The SBA made the loan possible by guaranteeing $127,500 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
DALLAS, TX 75231
SBA Loan Lender
SOUTHWEST SECURITIES, FSB
301 S CENTER ST, STE #120
ARLINGTON, TX 76010
This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
812310 - Coin-Operated Laundries and Drycleaners
Loan Approval Date
7/23/2001
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 an existing business. This loan was not for a franchise. At the time of the loan, the company
had 5 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.
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Many small businesses receive loans backed by the U.S. Small Business Administration.
We can help you find the best banks for small businesses in Dallas or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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