Austin, Texas Bank Gives SBA Loan to Drycleaning And Laundry Services Company

Want to talk with an Austin, Texas bank about a small business loan? Here's one Texas business loan, issued by an Austin bank, that was approved by the SBA.

Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local business in Katy, Texas. They got an SBA loan for $407,500. Way to go!

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
KATY, TX 77494

SBA Loan Lender

WELLS FARGO BANK
912 S HWY 183
AUSTIN, TX 78741

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

9/24/2002

Loan Approval Gross Amount

$407,500

Loan Approval from the SBA

Of the total $407,500 loan amount, the SBA guaranteed $305,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 2 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.

This SBA loan was for $407,500. How would you spend $407,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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