Raising Money for Motor Vehicle Dealers

With these business loans for motor vehicle dealers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle dealers loan for $60,000 was given to a California entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Pacific Western Bank, out of Glendora, California. The loan was granted and they received $60,000 to help grow their Cucamonga, California business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
CUCAMONGA, CA 91730

SBA Loan Lender

PACIFIC WESTERN BANK
510 S GRAND AVE
GLENDORA, CA 91741

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

4/1/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Pacific Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Debt Financing

SBA 7A Banks for Glendora, California Loans

California SBA 7A Banks