Borrowing Money 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 $357,200 was given to an Ohio entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fairborn, Ohio was able to borrow $357,200 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $267,900 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
FAIRBORN, OH 45324

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

8/29/2002

Loan Approval Gross Amount

$357,200

Loan Approval from the SBA

Of the total $357,200 loan amount, the SBA guaranteed $267,900.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Huntington National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Huntington National Bank 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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