Financing 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 $150,000 was given to a Connecticut entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Meriden, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Webster Bank, based in New Milford, Connecticut.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
MERIDEN, CT 06450

SBA Loan Lender

WEBSTER BANK
19 MAIN ST
NEW MILFORD, CT 06776

This lender provides SBA small 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

7/26/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Meriden CT, you ought to talk with a local Meriden SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Meriden businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Webster Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Alternative Financing

SBA Approved Banks in New Milford, Connecticut

Connecticut SBA Bank Lenders