Centier Bank Provides SBA Loan to Buy Spot Not Car Wash Franchise

Borrowing money to buy a Spot Not Car Wash franchise? Centier Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Spot Not Car Wash franchise? If so, here's a 2001 SBA franchise loan that you should know about. Centier Bank was the lender and the entrepreneur was based in Highland, Indiana.

SBA Loan Borrower

SPOT-NOT CAR WASH
HIGHLAND, IN 46322

SBA Loan Lender

CENTIER BANK
8310 BROADWAY
MERRILLVILLE, IN 46410

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners.

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

12/7/2001

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Spot Not Car Wash franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Spot-Not Car Washes

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SBA 7A Lenders in Merrillville, Indiana

Indiana SBA 7A Lenders