Motor Vehicle Dealers Bank Loans

With these bank loans for motor vehicle dealers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle dealers loan for $1,095,000 was given to a California entrepreneur in 2004.

Getting a small business loan in Avalon, California was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Spectrum Bank, operating out of Irvine, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
AVALON, CA 90704

SBA Loan Lender

SPECTRUM BANK
15615 ALTON PKWY
IRVINE, CA 92618

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

12/16/2004

Loan Approval Gross Amount

$1,095,000

Loan Approval from the SBA

Of the total $1,095,000 loan amount, the SBA guaranteed $821,250.

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 6 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,095,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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