Highland, IN Entrepreneur Gets SBA Loan to Buy Spot Not Car Wash Franchise

Need 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.

Spot Not Car Wash franchise loans are available to Highland, Indiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Centier Bank, based in Merrillville, Indiana, issued an SBA franchise loan for a Spot Not Car Wash franchise in 2003. We've got all the details on this Indiana small business loan.

SBA Loan Borrower

SPOT-NOT CARWASH
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 bank loans to American small businesses.

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

9/30/2003

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $48,750.

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 8 employees. The loan application did not indicate that the SBA funding recipient promised 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?

If you need money to start business in Highland IN, you ought to talk with a local Highland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Highland businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Centier Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Determining Proper Capital Structure for a Business

Find an SBA Lender in Merrillville, Indiana

Indiana SBA 7A Banks