Amer Business Lending Inc. Gives Business Loan to Coin-Operated Laundries And Drycleaners Company

Would a Texas bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs.

This business, based in Fort Worth, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Amer Business Lending Inc.. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
FORT WORTH, TX 76105

SBA Loan Lender

AMER BUSINESS LENDING INC.
1420 W. MOCKINGBIRD LANE, SUI
DALLAS, TX 75247

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

7/12/2005

Loan Approval Gross Amount

$605,000

Loan Approval from the SBA

Of the total $605,000 loan amount, the SBA guaranteed $453,750.

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 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find business people willing to loan money, 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.

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