Small Business Loans for Car Washes

With these small business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $121,000 was given to a South Dakota entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Gregory, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Fidelity Bank, based in Burke, South Dakota.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
GREGORY, SD 57533

SBA Loan Lender

FIRST FIDELITY BANK
745 MAIN ST
BURKE, SD 57523

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

12/9/2004

Loan Approval Gross Amount

$121,000

Loan Approval from the SBA

Of the total $121,000 loan amount, the SBA guaranteed $102,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

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

If you are raising money in Gregory SD, you ought to talk with a local Gregory SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gregory businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to 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 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.

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