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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Used Car Dealers Loan | ||||
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I Need an SBA 7A Loan in Banning, California
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Used Car Dealers LoansLooking for loans for used car dealers? Try the SBA. This $85,000 used car dealers loan was issued by a California bank. This small firm knew how to go about getting a business bank loan. Based in Banning, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender WELLS FARGO BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 441120 - Used Car Dealers Loan Approval Date 8/26/2005 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $42,500. 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 15 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 18 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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 $85,000 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. Related Links: Accountant's Role in Securing Financing Small Bank Loans in San Jose, California
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