Raising Money for Car Washes

With these business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,127,000 was given to a Maine entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Fryeburg, Maine was able to borrow $1,127,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $845,250 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
NORTH FRYEBURG, ME 04268

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

12/20/2006

Loan Approval Gross Amount

$1,127,000

Loan Approval from the SBA

Of the total $1,127,000 loan amount, the SBA guaranteed $845,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Pnc Bank, National Association and they will explain how you can get an SBA loan for your company.

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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