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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Far East National Bank Los Angeles Business Loans > Used Car Dealers Loan | ||||
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Big Bear Lake, California Bank Loan
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Loans for Used Car DealersWith these loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $630,000 was given to a California entrepreneur in 2005. This small firm knew how to go about getting a business bank loan. Based in Big Bear Lake, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Far East National Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender FAR EAST NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441120 - Used Car Dealers Loan Approval Date 6/8/2005 Loan Approval Gross Amount $630,000 Loan Approval from the SBA Of the total $630,000 loan amount, the SBA guaranteed $472,500. 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 5 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Best Banks in Los Angeles, California
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