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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Antonio, Business Loans > Broadway National Bank San Antonio Business Loans > Car Washes Loan | ||||
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Broadway National Bank Business Loans
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Car Washes Commercial LoansLooking for commercial loans for car washes? The SBA may be the answer. This $151,500 car washes loan was issued by a Texas bank. This business knew how to go about getting a business bank loan. Based in Seguin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Broadway National Bank, based in San Antonio, Texas. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender BROADWAY NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 4/4/2007 Loan Approval Gross Amount $151,500 Loan Approval from the SBA Of the total $151,500 loan amount, the SBA guaranteed $75,750. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Broadway National 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. Related Links: Accountant's Role in Securing Financing Best San Antonio, Texas Banks for Small Business
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