Get an SBA Loan for Car Washes

Looking for loans for car washes? An SBA loan may be just what you've been looking for. This $1,080,000 car washes loan was issued by a Texas bank.

This company knew how to go about getting a business bank loan. Based in Wake Forest, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Comerica Bank, based in Dallas, Texas.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
WAKE FOREST, NC 27588

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

1/9/2003

Loan Approval Gross Amount

$1,080,000

Loan Approval from the SBA

Of the total $1,080,000 loan amount, the SBA guaranteed $810,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 25 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Wake Forest NC, you ought to talk with a local Wake Forest SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wake Forest 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 Comerica 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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