Dallas, Texas Entrepreneur Gets a Business Loan
Bank loans in Texas are are few and far betweeen these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.
Getting a small business loan in Dallas, Texas was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
DALLAS, TX 75206
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
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
7/13/2000
Loan Approval Gross Amount
$133,000
Loan Approval from the SBA
Of the total $133,000 loan amount, the SBA guaranteed $99,750.
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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
Remember, 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.
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.
Related Links:
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SBA Texas Lenders