Bank Loans for Car Washes

Looking for bank loans for car washes? Talk to a banker who works with the SBA. This $1,153,000 car washes loan was issued by a Georgia bank.

This small firm knew how to go about getting a business bank loan. Based in Valdosta, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First St. Bank & Trust - Valdost, based in Valdosta, Georgia.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
VALDOSTA, GA 31601

SBA Loan Lender

FIRST ST. BANK & TRUST - VALDOST
3650 INNER PERIMETER RD
VALDOSTA, GA 31602

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

11/9/2005

Loan Approval Gross Amount

$1,153,000

Loan Approval from the SBA

Of the total $1,153,000 loan amount, the SBA guaranteed $864,750.

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 SBA loan documents indicated that the funding 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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