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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Ballinger, Business Loans > 1st National Bank - Ballinger Ballinger Business Loans > Drycleaning And Laundry Services Loan | ||||
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Good Banks for Winters Business Owners
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Raising Money for Drycleaning and Laundry ServicesLooking for bank loans for drycleaning and laundry services? Try the SBA. This $76,500 drycleaning and laundry services loan was issued by a Texas bank. This company knew how to go about getting a business bank loan. Based in Winters, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was 1st National Bank - Ballinger, based in Ballinger, Texas. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender 1ST NATIONAL BANK - BALLINGER This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 11/22/2002 Loan Approval Gross Amount $76,500 Loan Approval from the SBA Of the total $76,500 loan amount, the SBA guaranteed $65,025. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank - Ballinger that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Realistic Debt Financing Options
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