Get an SBA Loan for Car Washes

Looking for loans for car washes? Try the SBA. This $1,945,000 car washes loan was issued by a California bank.

Getting a small business loan in Capitol Heights, Maryland was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Hanmi Bank, operating out of Los Angeles, California. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
Capitol Heights, MD 20743

SBA Loan Lender

HANMI BANK
3245 WILSHIRE BLVD
LOS ANGELES, CA 90010

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

7/31/2006

Loan Approval Gross Amount

$1,945,000

Loan Approval from the SBA

Of the total $1,945,000 loan amount, the SBA guaranteed $1,458,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hanmi Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Financing Your Business

Small Bank Loans in Los Angeles, California

California SBA 7A Lenders