Get an SBA Loan for Used Car Dealers

With these small business loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $451,000 was given to a Colorado entrepreneur in 2006.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Center Bank, out of Los Angeles, California. The loan was granted and they received $451,000 to help grow their Aurora, Colorado business.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
AURORA, CO 80010

SBA Loan Lender

CENTER BANK
253 N WESTERN AVE
LOS ANGELES, CA 90004

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

12/11/2006

Loan Approval Gross Amount

$451,000

Loan Approval from the SBA

Of the total $451,000 loan amount, the SBA guaranteed $338,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $451,000. How would you spend $451,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Family and Friend Investors - Your First Financiers

Who Lends Money to Small Businesses in Los Angeles, California

California SBA 7A Banks