Texas Entrepreneur Secures Financing to Buy Comet One-Hour Dry Cleaners Franchise

Need a loan to buy a Comet One-Hour Dry Cleaners franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Comet One-Hour Dry Cleaners franchise shouldn't be overly burdensome. In 2004, Compass Bank issued an SBA franchise loan to an entrepreneur in Granbury, Texas. Because Comet One-Hour Dry Cleaners was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

COMET CLEANERS
GRANBURY, TX 76048

SBA Loan Lender

COMPASS BANK
8875 HWY 80 WEST
FORT WORTH, TX 76116

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

6/7/2004

Loan Approval Gross Amount

$318,100

Loan Approval from the SBA

Of the total $318,100 loan amount, the SBA guaranteed $238,575.

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 10 employees. The SBA loan documents indicated that the borrowed money would help generate 10 new jobs.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Comet Cleaners

Borrowing Money from Friends and Family

Small Bank Loans in Fort Worth, Texas

Getting a Business Loan in Texas