SBA Loans for Car Washes

With these SBA loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $429,960 was given to a Texas entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Tyler, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Southside Bank, based in Tyler, Texas.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
TYLER, TX 75707

SBA Loan Lender

SOUTHSIDE BANK
1201 S BECKHAM
TYLER, TX 75701

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a thorough understanding of SBA policies and procedures.

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

6/26/2000

Loan Approval Gross Amount

$429,960

Loan Approval from the SBA

Of the total $429,960 loan amount, the SBA guaranteed $322,470.

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 2 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Southside Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Southside Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Microlending as a Small Business Funding Source

SBA Banks in Tyler, Texas

SBA Texas Banks