Loan Census Banking News and Information
November 23, 2024  
 
 
  Business Loan Information  
 

Tips for Business Owners On Getting a Loan

 

 
Loan Census SBA Loan Info

Car Washes Business Loans

With these business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,725,000 was given to a North Carolina entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mooresville, North Carolina was able to borrow $1,725,000 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $1,293,750 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
MOORESVILLE, NC 28117

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

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.

NAICS Code

811192 - Car Washes

Loan Approval Date

6/17/2004

Loan Approval Gross Amount

$1,725,000

Loan Approval from the SBA

Of the total $1,725,000 loan amount, the SBA guaranteed $1,293,750.

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 77 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Equity Financing

Best Banks in Knoxville, Tennessee

SBA Lenders in Tennessee