SBA Loans for Drycleaning and Laundry Services

Looking for SBA loans for drycleaning and laundry services? The SBA may be the answer. This $150,000 drycleaning and laundry services loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Worth, 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: DRYCLEANING AND LAUNDRY SERVICES
FORT WORTH, TX 76132

SBA Loan Lender

SOUTHWEST SECURITIES, FSB
301 S CENTER ST, STE #120
ARLINGTON, TX 76010

This lender issued this particular commercial 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

812320 - Drycleaning and Laundry Services

Loan Approval Date

11/13/2002

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Southwest Securities, Fsb and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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