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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Roseville, Business Loans > Umpqua Bank Roseville Business Loans > Aamco Transmissions- Eureka Loan | ||||
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Business Loans for Eureka Businesses
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Borrow Money to Buy an Aamco Transmissions FranchiseNeed money to invest in an Aamco Transmissions franchise? Umpqua Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Eureka, California needed money to invest in an Aamco Transmissions franchise back in 2001. Umpqua Bank issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower AAMCO TRANSMISSIONS- EUREKA SBA Loan Lender UMPQUA BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 4/25/2001 Loan Approval Gross Amount $108,000 Loan Approval from the SBA Of the total $108,000 loan amount, the SBA guaranteed $91,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Umpqua Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Roseville, California SBA Participating Banks in California
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