Business Loan from First Fed. A Division - Washin Given to Car Washes Company

First Fed. A Division - Washin has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in El Paso, Texas, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was First Fed. A Division - Washin, based in Roswell, New Mexico.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
EL PASO, TX 79936

SBA Loan Lender

FIRST FED. A DIVISION - WASHIN
300 N PENNSYLVANIA AVE
ROSWELL, NM 88201

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial 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

4/26/2004

Loan Approval Gross Amount

$561,000

Loan Approval from the SBA

Of the total $561,000 loan amount, the SBA guaranteed $420,750.

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 20 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 First Fed. A Division - Washin 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:

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New Mexico SBA 7A Banks