Car Washes Commercial Loans

Looking for commercial loans for car washes? Try the SBA. This $2,000,000 car washes loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Torrance, California was able to borrow $2,000,000 from Excel National Bank. The SBA made the loan possible by guaranteeing $1,500,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
TORRANCE, CA 90503

SBA Loan Lender

EXCEL NATIONAL BANK
9701 WILSHIRE BLVD
BEVERLY HILLS, CA 90212

This lender provides SBA 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

7/31/2007

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 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 20 employees. The SBA loan documents indicated that the loan would help retain 20 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Torrance CA, you ought to talk with a local Torrance SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Torrance businesses.

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 Excel 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.

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