Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

We Needed a Commercial Loan in Hutto, Texas and We Got One!

 

 
Loan Census SBA Loan Info

Get an SBA Loan for Car Washes

Looking for small business loans for car washes? The SBA may be the answer. This $1,232,000 car washes loan was issued by a Texas bank.

Getting a small business loan in Hutto, Texas was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Small Business Loan Source LLC, operating out of Houston, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
HUTTO, TX 78634

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

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

5/3/2006

Loan Approval Gross Amount

$1,232,000

Loan Approval from the SBA

Of the total $1,232,000 loan amount, the SBA guaranteed $924,000.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

Related Links:

Strategic Investors

SBA Approved Banks in Houston, Texas

SBA Lenders in Texas