Borrowing Money for Car Washes

With these small business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,175,000 was given to an Idaho entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eagle, Idaho was able to borrow $1,175,000 from Amer Bank - Comm. D/b/a Ambank. The SBA made the loan possible by guaranteeing $881,250 of this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
EAGLE, ID 83616

SBA Loan Lender

AMER BANK - COMM. D/B/A AMBANK
3670 N UNIVERSITY AVE
PROVO, UT 84604

This small business 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

7/16/2007

Loan Approval Gross Amount

$1,175,000

Loan Approval from the SBA

Of the total $1,175,000 loan amount, the SBA guaranteed $881,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Amer Bank - Comm. D/b/a Ambank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Amer Bank - Comm. D/b/a Ambank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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