Borrowing Money for Car Washes

With these bank loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $40,000 was given to a New York entrepreneur in 2008.

This small firm knew how to go about getting a business bank loan. Based in Ozone, New York, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Citibank, based in Las Vegas, Nevada.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
OZONE, NY 11416

SBA Loan Lender

CITIBANK
3900 PARADISE RD, STE 127
LAS VEGAS, NV 89109

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811192 - Car Washes

Loan Approval Date

2/5/2008

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Ozone NY, you ought to talk with a local Ozone SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ozone businesses.

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:

Advice on Getting a Small Business Loan

SBA Banks in Las Vegas, Nevada

Where to Get an SBA Loan Nevada