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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Automobile And Motor Vehicle Merchant Wholesalers Loan | ||||
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Good Banks for Costa Mesa Business Owners
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Automobile and Motor Vehicle Merchant Wholesalers Bank LoansWith these bank loans for automobile and motor vehicle merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This automobile and motor vehicle merchant wholesalers loan for $1,376,000 was given to a California entrepreneur in 2004. Getting a small business loan in Costa Mesa, California was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Nara Bank, operating out of Los Angeles, California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE MERCHANT WHOLESALERS SBA Loan Lender NARA BANK 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 423110 - Automobile and Motor Vehicle Merchant Wholesalers Loan Approval Date 7/29/2004 Loan Approval Gross Amount $1,376,000 Loan Approval from the SBA Of the total $1,376,000 loan amount, the SBA guaranteed $1,032,000. 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 16 employees. The SBA loan application for the borrower indicated that the loan would help retain 16 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to borrow money from friends and family, 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: Best Los Angeles, California Banks for Small Business
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