Dallas, Texas Bank Lends Money to Spin Cycle Laundry in Austin, Texas

Find Dallas, Texas banks that specialize in SBA loans and know how to work with entrepreneurs. Comerica Bank is one such bank, as evidenced by this SBA loan to Spin Cycle Laundry.

Finding a small business loan in Austin, Texas starts with an understanding of who else has gotten loans in the area. In this case, Spin Cycle Laundry received funding from Comerica Bank Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

SPIN CYCLE LAUNDRY
9717 NORTH LAMAR BLVD UNIT A
AUSTIN, TX 78753

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

8/9/2004

Loan Approval Gross Amount

$785,000

Loan Approval from the SBA

Of the total $785,000 loan amount, the SBA guaranteed $588,750.

More Information on This SBA Loan

The borrower, Spin Cycle Laundry, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If Spin Cycle Laundry can get an SBA loan, there's no reason you can't 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 SBA loan database.

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