SBA Loan from U.S. Bank National Association Helps Automotive Dealers Company
U.S. Bank National Association is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.
This business knew how to go about getting a business bank loan. Based in Avalon, California, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was U.S. Bank National Association, based in Cincinnati, Ohio.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE DEALERS
AVALON, CA 90704
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5599 - Automotive Dealers
NAICS Code
441229 - Motor Vehicle Dealers
Loan Approval Date
9/18/2000
Loan Approval Gross Amount
$374,000
Loan Approval from the SBA
Of the total $374,000 loan amount, the SBA guaranteed $280,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like U.S. Bank National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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.
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