Sanger, Texas Lender Lends Money to Coin-Operated Laundries And Drycleaners Company

Thinking about meeting with a Sanger, Texas bank about a small business loan? Here's one Texas business loan, issued by a Sanger bank, that was approved by the SBA.

Applying for an SBA loan with First United Bank & Trust worked out well for our friends at one local business in Sanger, Texas. The business was able to get an SBA loan for $153,000. Nice!

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
SANGER, TX 76266

SBA Loan Lender

FIRST UNITED BANK & TRUST
1403 W CHAPMAN
SANGER, TX 76266

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

5/26/2006

Loan Approval Gross Amount

$153,000

Loan Approval from the SBA

Of the total $153,000 loan amount, the SBA guaranteed $114,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Sanger TX, you ought to talk with a local Sanger SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sanger businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Investor Turnoffs

Who Lends Money to Small Businesses in Sanger, Texas

Browse All Business Loan Sources for Texas