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December 25, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Carwashes Loan | ||||
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Midlothian, Virginia Bank Loan
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Car Washes Commercial LoansWith these commercial loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,571,000 was given to a Virginia entrepreneur in 2004. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Community So. Bank D.B.A Commun, out of Knoxville, Tennessee. The loan was granted and they received $1,571,000 to help grow their Midlothian, Virginia business. SBA Loan Borrower COMPANY TYPE: CARWASHES SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the 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 6/3/2004 Loan Approval Gross Amount $1,571,000 Loan Approval from the SBA Of the total $1,571,000 loan amount, the SBA guaranteed $1,178,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: How Much Venture Capital Is There?
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