Borrowing Money for Car Washes

Looking for small business loans for car washes? The SBA may be the answer. This $78,000 car washes loan was issued by a South Carolina bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Southcoast Community Bank, out of Mount Pleasant, South Carolina. The loan was granted and they received $78,000 to help grow their Charleston, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
CHARLESTON, SC 29407

SBA Loan Lender

SOUTHCOAST COMMUNITY BANK
530 JOHNNIE DODDS BLVD
MOUNT PLEASANT, SC 29464

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

8/23/2002

Loan Approval Gross Amount

$78,000

Loan Approval from the SBA

Of the total $78,000 loan amount, the SBA guaranteed $66,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 37 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Startup Funding Tip

Best Banks for Small Business in Mount Pleasant, South Carolina

Browse All Business Loan Sources for South Carolina