U.S. Bank National Association SBA Loan to Drycleaning And Laundry Services Company
An SBA loan from U.S. Bank National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Houston, Texas business owner got a $78,500 loan.
Getting a small business loan in Houston, Texas was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association, operating out of Cincinnati, Ohio. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
HOUSTON, TX 77056
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
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.
NAICS Code
812320 - Drycleaning and Laundry Services
Loan Approval Date
7/12/2001
Loan Approval Gross Amount
$78,500
Loan Approval from the SBA
Of the total $78,500 loan amount, the SBA guaranteed $58,875.
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 26 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 21 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from U.S. Bank National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Small Business Credit Cards
Find an SBA Lender in Cincinnati, Ohio
Getting an SBA Loan in Ohio