American Bank Of Commerce Gives Business Loan to Speedy Cleaners

Would a Texas small business loan help your small business to grow and prosper? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs.

Getting a small business loan in Austin, Texas was a top priority for Speedy Cleaners back in 2002 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Commerce. Here are the details on this Texas small business loan.

SBA Loan Borrower

SPEEDY CLEANERS
12400 AMHERST
AUSTIN, TX 78727

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

This SBA bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7216 - Drycleaning Plants, Except Rug Cleaning

NAICS Code

812320 - Drycleaning and Laundry Services (except Coin-Operated)

Loan Approval Date

3/13/2002

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, Speedy Cleaners, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 to Speedy Cleaners 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 SBA loan database.

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