Get an SBA Loan for Used Car Dealers

Looking for small business loans for used car dealers? Try the SBA. This $806,000 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 Fresno, California was able to borrow $806,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $524,996 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
FRESNO, CA 93729

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

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.

SIC Code

5521 - Motor Vehicle Dealers

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

5/8/2000

Loan Approval Gross Amount

$806,000

Loan Approval from the SBA

Of the total $806,000 loan amount, the SBA guaranteed $524,996.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 75 employees. The SBA loan application for the borrower indicated that the loan would help generate 75 new jobs and retain 75 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wachovia Sba Lending, Inc. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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