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May 17, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Spokane, Business Loans > Sterling Savings Bank Spokane Business Loans > Car Washes Loan | ||||
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SBA 7A Banks for Yakima Business Owners
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Where to Get Capital for Car WashesLooking for SBA loans for car washes? An SBA loan may be just what you've been looking for. This $145,000 car washes loan was issued by a Washington bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Yakima, Washington was able to borrow $145,000 from Sterling Savings Bank. The SBA made the loan possible by guaranteeing $123,250 of this Washington small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender STERLING SAVINGS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 4/25/2001 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sterling Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Spokane, Washington
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