Car Washes Loans

With these loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $60,000 was given to a Missouri entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbia, Missouri was able to borrow $60,000 from The Callaway Bank. The SBA made the loan possible by guaranteeing $51,000 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
COLUMBIA, MO 65203

SBA Loan Lender

THE CALLAWAY BANK
1600 CHAPEL HILL RD
COLUMBIA, MO 65203

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

11/23/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 12 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Callaway Bank 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.

Related Links:

Advice on Getting a Small Business Loan

Good Banks for Small Business in Columbia, Missouri

Getting a Business Loan in Missouri