Get an SBA Loan for Car Washes
With these small business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $2,000,000 was given to a California entrepreneur in 2007.
Getting a small business loan in South Gate, California was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Shinhan Bank America, operating out of New York City, New York. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: CAR WASHES
South Gate, CA 90280
SBA Loan Lender
SHINHAN BANK AMERICA
330 FIFTH AVE, 4TH FL
NEW YORK CITY, NY 10016
This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811192 - Car Washes
Loan Approval Date
4/26/2007
Loan Approval Gross Amount
$2,000,000
Loan Approval from the SBA
Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 8 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Shinhan Bank America 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.
Related Links:
Obtaining Funding - How to Borrow Money
SBA Participating Banks in New York City, New York
New York SBA 7A Lenders