Car Washes Bank Loans

With these bank loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,304,300 was given to a Georgia entrepreneur in 2003.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Crescent Bank & Trust, out of Jasper, Georgia. The loan was granted and they received $1,304,300 to help grow their Canton, Georgia business.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
CANTON, GA 30114

SBA Loan Lender

CRESCENT BANK & TRUST
7 CARING WAY
JASPER, GA 30143

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

8/1/2003

Loan Approval Gross Amount

$1,304,300

Loan Approval from the SBA

Of the total $1,304,300 loan amount, the SBA guaranteed $978,225.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

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

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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Crescent Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Angel Investors

Good Banks for Small Business in Jasper, Georgia

Getting an SBA Loan in Georgia