Car Washes Small Business Loans

Looking for small business loans for car washes? The SBA may be the answer. This $31,200 car washes loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Twin Valley, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Financial Bank, based in Twin Valley, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
TWIN VALLEY, MN 56584

SBA Loan Lender

FIRST FINANCIAL BANK
205 MAIN AVE WEST
TWIN VALLEY, MN 56584

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

6/21/2000

Loan Approval Gross Amount

$31,200

Loan Approval from the SBA

Of the total $31,200 loan amount, the SBA guaranteed $24,960.

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 business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $31,200. How would you spend $31,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Equity Financing

Good Banks for Small Business in Twin Valley, Minnesota

SBA Minnesota Lenders