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 $570,315 was given to a Kansas entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lyons, Kansas was able to borrow $570,315 from First Bank. The SBA made the loan possible by guaranteeing $427,736 of this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
LYONS, KS 67554

SBA Loan Lender

FIRST BANK
128 S BROADWAY
STERLING, KS 67579

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

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

7/10/2003

Loan Approval Gross Amount

$570,315

Loan Approval from the SBA

Of the total $570,315 loan amount, the SBA guaranteed $427,736.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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