Getting an SBA Loan for Car Washes

With these commercial loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,177,300 was given to an Ohio entrepreneur in 2001.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Buckeye Community Bank, out of Lorain, Ohio. The loan was granted and they received $1,177,300 to help grow their Elyria, Ohio business.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
ELYRIA, OH 44035

SBA Loan Lender

BUCKEYE COMMUNITY BANK
105 SHEFFIELD CTR
LORAIN, OH 44055

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able 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

7/26/2001

Loan Approval Gross Amount

$1,177,300

Loan Approval from the SBA

Of the total $1,177,300 loan amount, the SBA guaranteed $882,975.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

This SBA loan was for $1,177,300. How would you spend $1,177,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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