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May 3, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Car Washes Loan | ||||
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Tips for Business Owners On Getting a Loan
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Car Washes Business LoansWith these business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,725,000 was given to a North Carolina entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mooresville, North Carolina was able to borrow $1,725,000 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $1,293,750 of this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 6/17/2004 Loan Approval Gross Amount $1,725,000 Loan Approval from the SBA Of the total $1,725,000 loan amount, the SBA guaranteed $1,293,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 77 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: Best Banks in Knoxville, Tennessee
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