Small Business Loans 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 $126,000 was given to a California entrepreneur in 2000.
Getting a small business loan in Bakersfield, California was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association, operating out of Cincinnati, Ohio. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: MOTOR VEHICLE DEALERS
BAKERSFIELD, CA 93306
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5521 - Motor Vehicle Dealers
NAICS Code
441120 - Used Car Dealers
Loan Approval Date
3/13/2000
Loan Approval Gross Amount
$126,000
Loan Approval from the SBA
Of the total $126,000 loan amount, the SBA guaranteed $94,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 documents indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
We can help you find the best banks for small businesses in Bakersfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
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Who Lends Money to Small Businesses in Cincinnati, Ohio
Find an SBA Lender in Ohio