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December 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > El Paso, Business Loans > Bank Of The West El Paso Business Loans > Coin-Operated Laundries And Drycleaners Loan | ||||
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Bank Of The West El Paso, Texas
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Bank Of The West SBA Loan to Coin-Operated Laundries And Drycleaners CompanyAn SBA loan from Bank Of The West typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an El Paso, Texas business owner got a $136,000 loan. This small firm knew how to go about getting a business bank loan. Based in El Paso, Texas, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Bank Of The West, based in El Paso, Texas. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS SBA Loan Lender BANK OF THE WEST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 8/30/2005 Loan Approval Gross Amount $136,000 Loan Approval from the SBA Of the total $136,000 loan amount, the SBA guaranteed $115,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The West are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: SBA Approved Banks in El Paso, Texas
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