Financing for Car Washes

With these loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,220,000 was given to a Michigan entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Lansing, Michigan was able to borrow $1,220,000 from Citizens Bank. The SBA made the loan possible by guaranteeing $915,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
EAST LANSING, MI 48823

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

12/7/2004

Loan Approval Gross Amount

$1,220,000

Loan Approval from the SBA

Of the total $1,220,000 loan amount, the SBA guaranteed $915,000.

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 27 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in East Lansing MI, you ought to talk with a local East Lansing SBA lender or talk with an out-of-area SBA lender that has previously loaned money to East Lansing businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Line of Credit

Banks in Lansing, Michigan

Michigan SBA 7A Banks