Business Loans for Drycleaning and Laundry Services
With these business loans for drycleaning and laundry services, the SBA guarantees the lender that the loan will be repaid. This drycleaning and laundry services loan for $550,000 was given to a Texas entrepreneur in 2000.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Southlake, Texas was able to borrow $550,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $412,500 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
SOUTHLAKE, TX 76072
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
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
2/28/2000
Loan Approval Gross Amount
$550,000
Loan Approval from the SBA
Of the total $550,000 loan amount, the SBA guaranteed $412,500.
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 30 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 30 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
We can help you find the best banks for small businesses in Southlake or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
VC Firms on Twitter
Small Business Banks in Houston, Texas
SBA Participating Banks in Texas