Financing for Car Washes

Looking for loans for car washes? Talk to a banker who works with the SBA. This $145,000 car washes loan was issued by an Iowa bank.

This company knew how to go about getting a business bank loan. Based in Walnut, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Shelby County State Bank, based in Harlan, Iowa.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
WALNUT, IA 51577

SBA Loan Lender

SHELBY COUNTY STATE BANK
508 COURT ST
HARLAN, IA 51537

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

3/29/2002

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Shelby County State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Harlan, Iowa

Getting an SBA Loan in Iowa