Raising Money for Used Car Dealers

Looking for business loans for used car dealers? The SBA may be the answer. This $360,000 used car dealers loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cypress, California was able to borrow $360,000 from Gateway Business Bank. The SBA made the loan possible by guaranteeing $270,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
CYPRESS, CA 90603

SBA Loan Lender

GATEWAY BUSINESS BANK
18000 STUDEBAKER RD, STE 550
CERRITOS, CA 90703

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

3/25/2004

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Cypress CA, you ought to talk with a local Cypress SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cypress businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Gateway Business Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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