Borrowing Money for Car Washes

With these bank loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,230,000 was given to a Florida entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with 1st National Bank - Florida, out of Destin, Florida. The loan was granted and they received $1,230,000 to help grow their Gulf Breeze, Florida business.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
GULF BREEZE, FL 32561

SBA Loan Lender

1ST NATIONAL BANK - FLORIDA
17005 EMERALD COAST PKWY
DESTIN, FL 32541

This debt financing was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

7/20/2004

Loan Approval Gross Amount

$1,230,000

Loan Approval from the SBA

Of the total $1,230,000 loan amount, the SBA guaranteed $922,500.

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. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find business people willing to loan money, 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:

Obtaining Funding - Getting Venture Capital

Where to Get an SBA Loan in Destin, Florida

SBA Participating Banks in Florida