Business Loans for Car Washes

With these business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,407,000 was given to a South Carolina entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Summerville, South Carolina was able to borrow $1,407,000 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $1,055,250 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
SUMMERVILLE, SC 29485

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

6/7/2006

Loan Approval Gross Amount

$1,407,000

Loan Approval from the SBA

Of the total $1,407,000 loan amount, the SBA guaranteed $1,055,250.

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 2 employees. This SBA loan request indicated that the borrowed money would help generate 2 new jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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