Car Washes Commercial Loans

With these commercial loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $384,300 was given to a Missouri entrepreneur in 2003.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Irwin Union Bank & Trust, out of Traverse City, Michigan. The loan was granted and they received $384,300 to help grow their St. Louis, Missouri business.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
ST. LOUIS, MO 63116

SBA Loan Lender

IRWIN UNION BANK & TRUST
333 W GRANDVIEW PKWY, STE 110
TRAVERSE CITY, MI 49684

This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

11/7/2003

Loan Approval Gross Amount

$384,300

Loan Approval from the SBA

Of the total $384,300 loan amount, the SBA guaranteed $288,225.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Alternative Financing

Who Lends Money to Small Businesses in Traverse City, Michigan

Michigan SBA Banks