How to Get a Loan for Used Car Dealers

Looking for commercial loans for used car dealers? Talk to a banker who works with the SBA. This $604,900 used car dealers loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Clovis, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Excel National Bank, based in Beverly Hills, California.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
CLOVIS, CA 93612

SBA Loan Lender

EXCEL NATIONAL BANK
9701 WILSHIRE BLVD
BEVERLY HILLS, CA 90212

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

3/2/2007

Loan Approval Gross Amount

$604,900

Loan Approval from the SBA

Of the total $604,900 loan amount, the SBA guaranteed $453,675.

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 only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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California SBA 7A Lenders