Financing for Car Washes

With these commercial loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $185,000 was given to a Washington entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mukilteo, Washington was able to borrow $185,000 from Frontier Bank. The SBA made the loan possible by guaranteeing $138,750 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
MUKILTEO, WA 98275

SBA Loan Lender

FRONTIER BANK
332 SW EVERETT MALL WAY
EVERETT, WA 98204

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 commercial 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

6/22/2001

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

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 16 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $185,000. How would you spend $185,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Obtaining Funding - How to Borrow Money

Best Everett, Washington Banks for Small Business

Getting an SBA Loan in Washington