Camanche, IA Entrepreneur Gets SBA Loan to Buy Super Wash Franchise

Need money to purchase a Super Wash franchise? First Central State Bank has a history of making these loans and they are guaranteed by the SBA.

Super Wash franchise loans are available to Camanche, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Central State Bank, based in De Witt, Iowa, issued an SBA franchise loan for a Super Wash franchise in 2005. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

CORNHUSKER PARTNERS, LLC
CAMANCHE, IA 52730

SBA Loan Lender

FIRST CENTRAL STATE BANK
914 6TH AVE
DE WITT, IA 52742

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

6/3/2005

Loan Approval Gross Amount

$320,000

Loan Approval from the SBA

Of the total $320,000 loan amount, the SBA guaranteed $160,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Super Wash franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Super Wash, Inc.

Small Business Credit Cards

Find an SBA Lender in De Witt, Iowa

Getting an SBA Loan in Iowa