Bank Loans for Car Washes

With these bank loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,473,000 was given to a Michigan entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Ann Arbor, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Citizens Bank, based in Lansing, Michigan.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
ANN ARBOR, MI 48103

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

1/10/2000

Loan Approval Gross Amount

$1,473,000

Loan Approval from the SBA

Of the total $1,473,000 loan amount, the SBA guaranteed $749,757.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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