Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

El Monte, California Bank Loan

 

 
Loan Census SBA Loan Info

Car Washes Commercial Loans

With these commercial loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $633,700 was given to a California entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in El Monte, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Mirae Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
EL MONTE, CA 91731

SBA Loan Lender

MIRAE BANK
3255 WILSHIRE BLVD, STE 1100
LOS ANGELES, CA 90010

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

4/13/2005

Loan Approval Gross Amount

$633,700

Loan Approval from the SBA

Of the total $633,700 loan amount, the SBA guaranteed $475,275.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Obtaining Funding - Getting Venture Capital

Best Los Angeles, California Banks for Small Business

SBA Lenders in California