Main Street Registry

Speed Wash Express

Morrow, GA · Car Washes · NAICS 811192

Speed Wash Express, located in Morrow, Georgia, operates in the car washes industry (NAICS 811192). The business financed real estate or equipment through an SBA 504 loan of $1,050,000 with a total project amount of $1,470,000, approved on August 13, 2024, through LGE Community CU with Florida Business Development Corporation as the certified development company.

SBA 504 loan, approved Aug 13, 2024

SBA (CDC) portion
$1,050,000
Bank portion
$1,470,000
Estimated project size
$2,800,000 (estimated)
Estimated owner equity
$280,000 (estimated, about 10% of the project)
Bank lender
LGE Community CU, Atlanta, GA
CDC
Florida Business Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
August 13, 2049 (estimated, approval date plus term)
First disbursement
Nov 13, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
1
Business type
Corporation
NAICS
811192, Car Washes
Project location
Clayton County, GA
SBA district office
Georgia District Office
Congressional district
GA-5
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Georgia