Car Washes Small Business Loans

With these small business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,904,100 was given to a Virginia entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Richmond, Virginia was able to borrow $1,904,100 from Temecula Valley Bank. The SBA made the loan possible by guaranteeing $1,428,075 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
RICHMOND, VA 23234

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

12/8/2005

Loan Approval Gross Amount

$1,904,100

Loan Approval from the SBA

Of the total $1,904,100 loan amount, the SBA guaranteed $1,428,075.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Temecula Valley Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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