Comerica Bank SBA Loan to Car Washes Company

Comerica Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Diego, California was able to borrow $409,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $306,750 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
SAN DIEGO, CA 92009

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

1/31/2003

Loan Approval Gross Amount

$409,000

Loan Approval from the SBA

Of the total $409,000 loan amount, the SBA guaranteed $306,750.

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 20 employees. This SBA loan request indicated that the loan would help generate 24 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in San Diego CA, you ought to talk with a local San Diego SBA lender or talk with an out-of-area SBA lender that has previously loaned money to San Diego businesses.

We can help you find the best banks for small businesses in San Diego or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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Getting an SBA Loan in Texas