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May 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > American Bank Of Commerce Lubbock Business Loans > Garment Pressing And Cleaners Agents For Laundries Loan | ||||
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I Need a Small Business Loan in Lubbock, Texas
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Janitorial Services Commercial LoansLooking for commercial loans for janitorial services? An SBA loan may be just what you've been looking for. This $150,000 janitorial services loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lubbock, Texas was able to borrow $150,000 from American Bank Of Commerce. The SBA made the loan possible by guaranteeing $127,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: GARMENT PRESSING AND CLEANERS AGENTS FOR LAUNDRIES SBA Loan Lender AMERICAN BANK OF COMMERCE 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. SIC Code 7212 - Garment Pressing and Cleaners Agents for Laundries NAICS Code 561720 - Janitorial Services Loan Approval Date 12/29/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 65 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 From a Venture Capitalist
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