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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Auburn, Business Loans > Wells Fargo Bank Auburn Business Loans > Motor Vehicle Dealers Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Commercial Loans for Motor Vehicle DealersLooking for commercial loans for motor vehicle dealers? Talk to a banker who works with the SBA. This $465,000 motor vehicle dealers loan was issued by a California bank. This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Wells Fargo Bank, out of Auburn, California. The loan was granted and they received $465,000 to help grow their Encinitas, California business. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender WELLS FARGO BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441229 - Motor Vehicle Dealers Loan Approval Date 3/21/2007 Loan Approval Gross Amount $465,000 Loan Approval from the SBA Of the total $465,000 loan amount, the SBA guaranteed $348,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My 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. We've showcased information on this loan to let you know that businesses like yours 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 Small Bank Loans in Auburn, California Where to Get an SBA Loan California
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