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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Newport Beach, Business Loans > Commercewest Bank Newport Beach Business Loans > Motor Vehicle Supplies And New Parts Merchant Wholesalers Loan | ||||
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How to Get SBA Loans in Anaheim, California
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Where to Get Capital for Motor Vehicle Supplies and New Parts Merchant WholesalersWith these small business loans for motor vehicle supplies and new parts merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle supplies and new parts merchant wholesalers loan for $75,000 was given to a California entrepreneur in 2007. Getting a small business loan in Anaheim, California was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Commercewest Bank, operating out of Newport Beach, California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS SBA Loan Lender COMMERCEWEST BANK This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers Loan Approval Date 4/24/2007 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 12 new jobs and retain 22 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commercewest Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks in Newport Beach, California
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