Business Loan from Metrobank Given to Power Laundries, Family And Commercial Company

Metrobank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Pasadena, Texas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Metrobank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
PASADENA, TX 77505

SBA Loan Lender

METROBANK
9600 BELLAIRE BLVD
HOUSTON, TX 77036

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

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

8/29/2000

Loan Approval Gross Amount

$1,256,000

Loan Approval from the SBA

Of the total $1,256,000 loan amount, the SBA guaranteed $749,995.

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.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Metrobank and they will explain how you can get an SBA loan for your company.

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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