Car Washes Bank Loans

With these bank loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $31,017 was given to a Pennsylvania entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Erie, Pennsylvania was able to borrow $31,017 from First National Bank - Pennsylvania. The SBA made the loan possible by guaranteeing $26,365 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
ERIE, PA 16505

SBA Loan Lender

FIRST NATIONAL BANK - PENNSYLVANIA
5999 STATION RD
NORTH EAST, PA 16428

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

10/22/2001

Loan Approval Gross Amount

$31,017

Loan Approval from the SBA

Of the total $31,017 loan amount, the SBA guaranteed $26,365.

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 13 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Getting a Small Business Loan

Where to Get an SBA Loan in North East, Pennsylvania

SBA Participating Banks in Pennsylvania