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May 10, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Medford, Business Loans > Washington Mutual Bank Medford Business Loans > Carwashes Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Borrowing Money for Car WashesLooking for bank loans for car washes? Talk to a banker who works with the SBA. This $626,000 car washes loan was issued by an Oregon bank. This small firm knew how to go about getting a business bank loan. Based in West Valley, Utah, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Washington Mutual Bank, based in Medford, Oregon. SBA Loan Borrower COMPANY TYPE: CARWASHES SBA Loan Lender WASHINGTON MUTUAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. 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 6/20/2000 Loan Approval Gross Amount $626,000 Loan Approval from the SBA Of the total $626,000 loan amount, the SBA guaranteed $469,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Who Lends Money to Small Businesses in Medford, Oregon
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