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April 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Arlington, Business Loans > State National Bank Arlington Business Loans > Cathy's Drycleaners Inc./cathy Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Loan to Buy Comet One-Hour Dry Cleaners Franchise Issued By State National BankNeed money to buy a Comet One-Hour Dry Cleaners franchise? State National Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Comet One-Hour Dry Cleaners franchise shouldn't be overly burdensome. In 2003, State National Bank issued an SBA franchise loan to an entrepreneur in Grand Prairie, Texas. Because Comet One-Hour Dry Cleaners was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower CATHY'S DRYCLEANERS INC./CATHY SBA Loan Lender STATE NATIONAL BANK This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 7/15/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Comet One-Hour Dry Cleaners franchise. 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 add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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:
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