Coin-Operated Laundries and Drycleaners Bank Loans

With these bank loans for coin-operated laundries and drycleaners, the SBA guarantees the lender that the loan will be repaid. This coin-operated laundries and drycleaners loan for $627,500 was given to a Texas entrepreneur in 2004.

Getting a small business loan in Austin, Texas was important for Spincycle back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Dallas, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

SPINCYCLE
3501 GUADALUPE ST
AUSTIN, TX 78705

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

9/14/2004

Loan Approval Gross Amount

$627,500

Loan Approval from the SBA

Of the total $627,500 loan amount, the SBA guaranteed $470,625.

More Information on This SBA Loan

The borrower, Spincycle, 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Austin TX, you ought to talk with a local Austin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Austin businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. If a firm like Spincycle is able to get a $627,500 loan, why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

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SBA 7A Banks in Dallas, Texas

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