Raising Money for Drycleaning and Laundry Services

Looking for business loans for drycleaning and laundry services? Try the SBA. This $326,100 drycleaning and laundry services loan was issued by a Texas bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Trustmark National Bank, out of Houston, Texas. The loan was granted and they received $326,100 to help grow their Houston, Texas business.

SBA Loan Borrower

COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
HOUSTON, TX 77073

SBA Loan Lender

TRUSTMARK NATIONAL BANK
4200 WESTHEIMER
HOUSTON, TX 77027

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7211 - Power Laundries, Family and Commercial

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

12/9/2004

Loan Approval Gross Amount

$326,100

Loan Approval from the SBA

Of the total $326,100 loan amount, the SBA guaranteed $244,575.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Houston TX, you ought to talk with a local Houston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Houston businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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