Washington Mutual Bank SBA Loan to Coin-Operated Laundries And Drycleaning Company

An SBA loan from Washington Mutual Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Houston, Texas business owner got a $218,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Washington Mutual Bank, out of Houston, Texas. The loan was granted and they received $218,000 to help grow their Houston, Texas business.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
HOUSTON, TX 77053

SBA Loan Lender

WASHINGTON MUTUAL BANK
3200 SOUTHWEST FRWY #950
HOUSTON, TX 77027

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

9/10/2002

Loan Approval Gross Amount

$218,000

Loan Approval from the SBA

Of the total $218,000 loan amount, the SBA guaranteed $163,500.

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 3 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $218,000. How would you spend $218,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Obtaining Funding - Friends and Family

Best Banks for Small Business in Houston, Texas

Texas SBA Banks