Raising Money for Car Washes
With these business loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $1,127,000 was given to a Maine entrepreneur in 2006.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Fryeburg, Maine was able to borrow $1,127,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $845,250 of this Maine small business loan.
SBA Loan Borrower
COMPANY TYPE: CAR WASHES
NORTH FRYEBURG, ME 04268
SBA Loan Lender
PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222
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.
811192 - Car Washes
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $1,127,000 loan amount, the SBA guaranteed $845,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
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 Pnc Bank, National Association 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.
Role of Business Plan When Raising Money
Best Banks in Pittsburgh, Pennsylvania
Pennsylvania SBA 7A Lenders