City National Bank Gives Small Business Loan to Motor Vehicle Towing Company

Searching for a California business loan? This California entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners.

Getting a small business loan in Compton, California was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from City National Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
COMPTON, CA 90221

SBA Loan Lender

CITY NATIONAL BANK
606 S OLIVE ST
LOS ANGELES, CA 90014

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

488410 - Motor Vehicle Towing

Loan Approval Date

9/4/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Banking Deregulation's Effects on Entrepreneurship

Who Lends Money to Small Businesses in Los Angeles, California

Getting an SBA Loan in California