Wolfforth, Texas Lender Lends Money to The Carwash At Mlk

Get SBA loans from a Wolfforth, Texas bank that knows how to treat small business owners right! If The Carwash At Mlk can get a loan, there's no reason you can't do it too.

American Bank Of Commerce is a Wolfforth, Texas small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to The Carwash At Mlk a Texas company.

SBA Loan Borrower

THE CARWASH AT MLK
3233 EAST MARTIN LUTHER KING
AUSTIN, TX 78721

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

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.

NAICS Code

811192 - Car Washes

Loan Approval Date

9/1/2005

Loan Approval Gross Amount

$137,000

Loan Approval from the SBA

Of the total $137,000 loan amount, the SBA guaranteed $102,750.

More Information on This SBA Loan

The borrower, The Carwash At Mlk, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. This loan was paid in full, and was closed out on 1/31/2008.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The Carwash At Mlk needed a loan. American Bank Of Commerce probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, American Bank Of Commerce made the loan. The end result was that The Carwash At Mlk 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 SBA loan database.

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