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May 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Prosper, Business Loans > Prosper Bank Prosper Business Loans > Car Washes Loan | ||||
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Business Loans for Desoto Businesses
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Commercial Loans for Car WashesLooking for commercial loans for car washes? The SBA may be the answer. This $1,858,500 car washes loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Desoto, Texas was able to borrow $1,858,500 from Prosper Bank. The SBA made the loan possible by guaranteeing $1,393,875 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender PROSPER BANK This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 5/1/2007 Loan Approval Gross Amount $1,858,500 Loan Approval from the SBA Of the total $1,858,500 loan amount, the SBA guaranteed $1,393,875. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 31 employees. The loan application indicated that the loan would help generate 27 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Prosper Bank and they will explain how you can get an SBA loan for your company. 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: Realistic Debt Financing Options SBA Approved Banks in Prosper, Texas
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