Commercial Loans for Car Washes

With these commercial loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $700,000 was given to a California entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Merchants Bank - California Natl, out of Carson, California. The loan was granted and they received $700,000 to help grow their Colton, California business.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
COLTON, CA 92324

SBA Loan Lender

MERCHANTS BANK - CALIFORNIA NATL
1 CIVIC PLAZA DR
CARSON, CA 90745

This bank 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.

NAICS Code

811192 - Car Washes

Loan Approval Date

8/17/2005

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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

If you are wondering how to raise money for a business in Colton CA, you ought to talk with a local Colton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Colton businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Merchants Bank - California Natl that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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