Raising Money for Car Washes

With these business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $158,600 was given to a Pennsylvania entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Bellefonte, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Kishacoquillas Valley National, based in Belleville, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
BELLEFONTE, PA 16823

SBA Loan Lender

KISHACOQUILLAS VALLEY NATIONAL
4255 E MAIN ST
BELLEVILLE, PA 17004

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811192 - Car Washes

Loan Approval Date

6/10/2005

Loan Approval Gross Amount

$158,600

Loan Approval from the SBA

Of the total $158,600 loan amount, the SBA guaranteed $79,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

Related Links:

Bank Credit Lines

Banks in Belleville, Pennsylvania

Pennsylvania SBA Banks