Any one obtained a loan?

[Waxman]

true...

My carwash loan was 6+ years ago and was SBA 504 backed (second position collateralized). I was only able to obtain financing for new construction of my first wash because I owned my land (which the bank and SBA considered my downpayment) and got an SBA 504 loan as a part of the total package.

I used a local bank.

 

[scout]

Here is support for my position that banks just are not lending to small business-----

http://online.wsj.com/article/SB10001424052702303425504577352180369440826.html?mod=googlenews_wsj

 

[Bubbles Galore]

I will be closing on my second SBA backed loan with a local bank today. Through consolidation and the like, I will realize an additional $3,500 in cash flow. It was a long and sometimes frustrating process, but has worked out in the end. I attempted to use the "big banks" initially but they refuse to dig deep into the business, if you don't meet their pre-determined criteria, you are out of luck. Thankfully we worked with a local bank that understood that while the property value came back low, the realized cash flow made too much business sense to pass up and was able to obtain all the SBA approvals.

It never hurts to check into it...all they can say is no...