Borrowing Money for Car Washes

With these loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $320,000 was given to a Texas entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Wells Fargo Bank, based in Denton, Texas.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
HOUSTON, TX 77022

SBA Loan Lender

WELLS FARGO BANK
101 S LOCUST ST
DENTON, TX 76201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

4/19/2002

Loan Approval Gross Amount

$320,000

Loan Approval from the SBA

Of the total $320,000 loan amount, the SBA guaranteed $240,000.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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 Wells Fargo 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.

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