Car Washes Loans

With these loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,041,000 was given to an Utah entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Brighton Bank, out of Salt Lake City, Utah. The loan was granted and they received $1,041,000 to help grow their Salt Lake City, Utah business.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
SALT LAKE CITY, UT 84101

SBA Loan Lender

BRIGHTON BANK
940 W NORTH TEMPLE
SALT LAKE CITY, UT 84116

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

10/6/2005

Loan Approval Gross Amount

$1,041,000

Loan Approval from the SBA

Of the total $1,041,000 loan amount, the SBA guaranteed $780,750.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Brighton Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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