Bank Loans 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 $1,515,000 was given to a California entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in Poway, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was California Bank & Trust, based in Sacramento, California.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
POWAY, CA 92064

SBA Loan Lender

CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833

When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

9/15/2004

Loan Approval Gross Amount

$1,515,000

Loan Approval from the SBA

Of the total $1,515,000 loan amount, the SBA guaranteed $757,500.

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 4 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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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:

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SBA Approved Banks in Sacramento, California

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