Loan Census Banking News and Information
February 1, 2023  
 
 
  Business Loan Information  
 

Gallatin, Tennessee Bank Loan

 

 
Loan Census SBA Loan Info

Loan to Buy National Car Care Center Franchise Issued By Volunteer State Bank

Need money to buy a National Car Care Center franchise? Volunteer State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a National Car Care Center franchise shouldn't be overly burdensome. In 2005, Volunteer State Bank issued an SBA franchise loan to an entrepreneur in Gallatin, Tennessee. Because National Car Care Center was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

SUDZ, LLC
GALLATIN, TN 37166

SBA Loan Lender

VOLUNTEER STATE BANK
239 W MAIN ST
HENDERSONVILLE, TN 37075

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan 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.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

4/27/2005

Loan Approval Gross Amount

$866,618

Loan Approval from the SBA

Of the total $866,618 loan amount, the SBA guaranteed $649,964.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a National Car Care Center franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Role of Business Plan When Raising Money

Banks in Hendersonville, Tennessee

Tennessee SBA 7A Lenders