Corona, California Bank Gives SBA Loan to Motor Vehicle Dealers Company

Get to know Corona, California banks that specialize in business loans and know how to work with entrepreneurs. Vineyard Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Burlingame, California starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Vineyard Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
BURLINGAME, CA 94010

SBA Loan Lender

VINEYARD BANK
1260 CORONA POINTE CT
CORONA, CA 92879

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to American small businesses.

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

12/18/2003

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 11 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Borrowing Money from Friends and Family

SBA 7A Banks in Corona, California

SBA Participating Banks in California