Loan to Buy Comet One-Hour Dry Cleaners Franchise Issued By Bank Of America

Borrowing money to purchase a Comet One-Hour Dry Cleaners franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

If you live near Dallas, Texas and are interested in buying a Comet One-Hour Dry Cleaners franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Bank Of America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

COMET CLEANERS
DALLAS, TX 75240

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

3/7/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Comet One-Hour Dry Cleaners franchise. At the time of the loan, the company had 16 employees. The loan application indicated that the loan would help generate 1 new job and retain 16 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Comet Cleaners

Equity Financing

Who Lends Money to Small Businesses in Charlotte, North Carolina

SBA North Carolina Lenders