Drycleaning and Laundry Services Loans

Looking for loans for drycleaning and laundry services? The SBA may be the answer. This $406,500 drycleaning and laundry services loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with United Central Bank, out of Garland, Texas. The loan was granted and they received $406,500 to help grow their Houston, Texas business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
HOUSTON, TX 77018

SBA Loan Lender

UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

7/25/2006

Loan Approval Gross Amount

$406,500

Loan Approval from the SBA

Of the total $406,500 loan amount, the SBA guaranteed $304,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like United Central Bank and they will explain how you can get an SBA loan for your company.

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:

SBIR Funding

Good Banks for Small Business in Garland, Texas

Texas SBA Banks